| Wed 6 Apr 2011, 14:57 | | BSR - Basil Read Holdings Limited- Voluntary Business Update |
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BSR
BSR
BSR - Basil Read Holdings Limited- Voluntary Business Update
Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1984/007758/06)
Share Code: BSR ISIN: ZAE000029781
("Basil Read" or the "company")
VOLUNTARY BUSINESS UPDATE
BASIL READ, IN JOINT VENTURE, SECURES MINING SERVICES CONTRACT IN BOTSWANA
Highlights
- Award of multi-billion rand Cut 8 Contract Mining - Phase 2
- Five year contract commencing in June 2011
Basil Read is pleased to announce that the MAJWE Mining Joint Venture
("MAJWE") has secured a five year multi-billion rand mining service contract
with Debswana Diamond Company (Proprietary) Limited ("Debswana") in Botswana.
The contract is for the Cut 8 Phase 2 services at the Debswana diamond mine
in Jwaneng, Botswana.
MAJWE consists of joint venture partners, Basil Read Mining, the Leighton
Group and Bothakga Burrow Botswana. The Basil Read group`s order book
following the award of this contract is valued at just under R10 billion.
Debswana is the world`s largest diamond producer by value, with mining
operations at Jwaneng, Orapa, Letlhakane and Damtshaa in Botswana. All of
these mines use open-pit mining methods to extract their diamonds.
MAJWE will provide mining services to deliver the Cut 8 Phase 2 contract,
including mine scheduling, drill and blast, truck & shovel waste removal and
one ore mining. Over the full term of the contract, MAJWE will move 156
million cubic metres of material.
The contract is scheduled to start in June 2011.
06 April 2011
Johannesburg
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 06/04/2011 14:57:01 Produced by the JSE SENS Department.
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