Veris wins $4.3m in contracts

Veris’s technology and communications business has secured new work with BHP and OZ Minerals, as well as a contract with Cubic Defence Australia, totalling $4.3 million.

The contracts have been awarded to Aqura Technologies, which was established by Veris (formerly OTOC) in 2017 after the company renamed its communications division.

Shares in Veris were trading 24 per cent higher on the news to 3.6 cents per share, as at 12:30pm AEST.

Under the new contracts, Aqura will support a WiFi rollout across BHP Western Australian Iron Ore's Yandi operations as well as upgrade OZ Minerals’ accommodation network at a mine site in South Australia.

Osborne Park-based Aqura has also begun working with Cubic Defence Australia, a subsidiary of US-based Cubic Corporation, to modernise wideband communications on defence training systems.

Aqura chief executive Travis Young said the contract with Cubic represented the company’s growth in a new market.

“It is very pleasing to see the great work the Aqura team is delivering given these extraordinary times,” he said.

“Our new work with BHP and OZ Minerals is a great reflection of the quality and hard work our team are delivering in the resources sector.”

Aqura expects to begin work on all three projects immediately.

The company said it planned to ramp-up site activity once coronavirus-related travel restrictions were eased.