Africa|Business|Construction|Engineering|engineering news|Industrial|Mining|Power|Projects|Services|Water|Contracting
Africa|Business|Construction|Engineering|engineering news|Industrial|Mining|Power|Projects|Services|Water|Contracting

M&R fails to regain control of RUC, but continues to explore Australia options

4th July 2023

By: Terence Creamer

Creamer Media Editor


Font size: - +

JSE-listed engineering and construction group Murray & Roberts (M&R) has failed in its initial bid to regain control of RUC Cementation Mining Contractors (RUC), which was lost to the group when its Australian holding company entered administration in December, together with Clough.

M&R told shareholders on Tuesday that it had received notice from the administrators on July 3 that certain conditions precedent related to a Deed of Company Arrangement (DOCA) proposal term sheet prepared as part of an effort to regain control of RUC had not been satisfied and had, thus, been terminated.

Group investor and media executive Ed Jardim told Engineering News that M&R would continue to explore a way forward to regain control of RUC.

“We just won’t be in an exclusive process through the DOCA anymore.”

Jardim confirmed that a receiver had been appointed to run RUC in the interim and RUC could either be sold or the creditors might decide to take over the running of the business.

M&R also recently established Cementation APAC as a possible alternative vehicle to provide engineering and contracting services to mining clients in the Asia Pacific region, but had viewed regaining control of RUC as its preferred option.

Cementation APAC is based in Perth and is overseen by the group’s mining platform CEO, Mike da Costa.

“The Cementation brand is well known in the global mining space and the group will continue to target Australian mining opportunities in joint venture with our businesses in North America, Cementation Americas, and Murray & Roberts Cementation in sub-Saharan Africa,” Jardim said.

RUC previously contributed about one-third to M&R’s mining platform and its loss meant that the group’s mining platform currently comprised two regional businesses in Africa and the Americas.

The remaining mining platform had combined orders worth R14-billion at the end of December.

With the loss of Clough, the mining platform formed the core of the downscaled M&R, which had also retained a unit in sub-Saharan Africa, which is focusing on power, industrial and water projects.

M&R’s shares fell 6% to 93 cents a share immediately after the RUC statement was issued.

Edited by Creamer Media Reporter




Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

Sandvik Mining and Rock Solutions
Sandvik Mining and Rock Solutions

Our intelligent surface drill rigs bring the latest technology to surface mining applications. Designed to work in the toughest operating...


Latest Multimedia

sponsored by

Magazine round up | 23 February 2024
Magazine round up | 23 February 2024
23rd February 2024
An image of Dr Mehran Zarrebini posing in front of waste tires
Firm emphasises valorisation
23rd February 2024 By: Lumkile Nkomfe
Coal being transported to port
Mining tax revenue down by 50.4% y/y
21st February 2024 By: Darren Parker

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.334 0.386s - 155pq - 2rq
Subscribe Now