Watpac to resume at Cockatoo

Watpac Civil & Mining says it will resume limited works at Pluton Resources' Cockatoo Island iron ore project following discussions with the troubled miner's receivers, KordaMentha.

In a statement today, Watpac said it had been in several discussions with KordaMentha in relation to the status of its contract with Pluton.

"Watpac has recently agreed to complete some limited scope works on site, under the direction of KordaMentha and on a fully indemnified basis in relation to payment for these services," Waptac said.

It said it was hopeful in reaching an arrangement to undertake further activities at Cockatoo Island, under KordaMentha's instruction.

When Pluton fell into the hands of receivers earlier in the week, its major shareholder General Nice Resources appointed John Bumbak, Cliff Rocke and Janna Robertson of KordaMentha as the company's receivers.

It followed a clash between GNR and Pluton's Chinese secured creditor Rizhao Port Group Logistics, who wanted to appoint representatives of FTI Consulting as Pluton's receivers instead.

Watpac is owed about $19 million for work at Cockatoo Island.

Watpac's share price closed 1.27 per cent lower at 78 cents per share.