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JOHANNESBURG - South African construction and engineering group Murray & Roberts announced on Friday that it has been awarded new underground mining projects in the North American and Australasian markets to the value of R3.8 billion. 

Murray & Roberts said that the projects will be delivered over a period of up to four years.

The value of these awards represents an increase of approximately 25 percent on the published Underground Mining platform order book of R15.3 billion as at 31 December 2017. 

The group said that its Underground Mining platform is adequately resourced to undertake this work and has the capacity to take on additional work.

Based on market research guidance, the group expects that the improvement in the commodity cycle and increased investment by mining companies will present long-term.

In its interim results last month, Murray & Roberts reported a 10 percent increase in revenue from continuing operations increased to R11.8 billion while diluted continuing headline earning per share (HEPS) increased by 104 percent to 55 cents.

- African News Agency (ANA)