VDM wins $18.4m of new work

VDM Group has announced two new contracts collectively worth $18.4 million, pushing its current financial year order book to more than $100 million.

The construction and contracting group said today it had secured $10 million contract with Karara Mining, to design and construct a minesite warehouse, workshops and washdown facility at the Karara iron ore development south-east of Geraldton.

VDM also said it had won an $8.4 million deal with AngloGold Ashanti to build internal roads, diversion channels, fencing and an temporary accommodation camp at the Tropicana gold project in the northern Goldfields.

The company’s work in hand now stands at $240 million, with more than $100 million won since July 1, chief executive Andrew Broad said.

“These contracts are further evidence that the industry-wide hiatus in the award of new contracts is abating,” he said.

“I am also very pleased that our recently restructured business units are delivering on their objectives of securing new work in the resources sector.”

VDM’s stock remains in a trading halt, having last traded at 16 cents.