Cimic Group company Leighton Asia has been selected by the Philippines Department of Transportation to construct a section of the North South Commuter Railway System – South Commuter Railway Project (SCRP), a project that will ease road congestion around Manila. The Leighton-First Balfour joint venture will construct Contract Package S-03B (CP S-03B) for the project, generating revenue of approximately A$283 million for Leighton Asia.
Revenues for the first quarter totaled SEK 19,962 m (21,812) and operating profit excluding revaluation of process inventory was SEK 3,020 m (4,466). Free cash flow totaled SEK -46 m (674).
“We have fundamentally high stability in all of our units. However, during the quarter several factors affected us, leading to production challenges, especially in our mines. At the same time, it’s pleasing that our major investment projects are proceeding according to plan,” says Mikael Staffas, President and CEO.
Metso Outotec has ended wind down and discontinued business in Russia
Metso Outotec has ended wind down and discontinued business in Russia (Credits: Metso Outotec)
Metso Outotec has not taken new orders from Russia since Russia’s attack on Ukraine in February 2022. To speed up discontinuation of contracts made before the war, the company started negotiating with its non-sanctioned customers to wind down open contracts.
This wind down process was completed in the first quarter of 2023, and Metso Outotec has since discontinued business with Russia.
To cover the costs of the wind down process, the company booked a non-recurring charge of EUR 150 million in the second quarter of 2022.
Metso Outotec has fully complied with all applicable sanctions against Russia.
Source: Metso Outotec
Hexagon’s Mining division has received the EcoVadis Gold Sustainability Rating, putting the global leader in mining technology for planning, operations, and safety in the top third percentile of those assessed. The Sustainability Scorecard that EcoVadis uses recognizes performance across 21 indicators in four themes: environment, labor and human rights, ethics, and sustainable procurement. The Mining division was assessed under the “manufacturers of computers and peripheral equipment” category, scoring well above industry standards across all areas.
Leading industry companies and a broad array of industry leaders made their way to the African continent's largest mining convention in February. The Mining Indaba, as it's called, is an annual Mining Conference held in Cape Town, South Africa that attracts brokers and lenders, explorers and miners, politicians and policy makers from throughout the world to get the latest updates on mineral exploration and mining in Africa. While Pula is the only American exploration company operating in Tanzania, the American presence at this year's Indaba was impressive by any measure.
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