Shaft Sinkers Holdings, the shaft sinking and underground construction group, announces that its subsidiary company, Shaft Sinkers Kazakhstan LLP, has signed a contract valued at approximately GBP37 million with TNK Kazchrome JSC.

The project will entail the sinking of the Skipovaya vertical shaft to access a ferrochrome ore body which will be mined to supply ore to the Donskoy processing plant in the Aktujbinsk region of Kazakhstan.

The scope of work will include the sinking and lining of an 8 metre diameter skip shaft to a final depth of 1453 metres. The contract, which will commence in September 2014, is scheduled to be completed in 2018.

Kazchrome manufactures, supplies and exports ferroalloys to steelmakers in the Americas, Europe, and Central and South East Asia.

Shaft Sinkers’ CEO Alon Davidov says, “I am delighted that, following successful negotiations, we have signed the contract for the development of the Skipovaya vertical shaft. This contract represents both an endorsement of the company’s unrivalled shaft sinking capabilities and an exciting new challenge in terms of commodity and country. We look forward to developing a long and successful working relationship with Kazchrome as we deliver on the project.”

Shaft Sinkers Holdings specializes in the sinking of particularly deep and wide vertical and decline shafts and the development of underground infrastructure, used primarily in mining and hydropower applications.

Historically, the group has completed projects in more than 20 countries across Africa, Europe, South America, the Middle East, Asia and Australia. The group was responsible for sinking one of the deepest ever man and material South African shafts, a secondary shaft at the Western Deep Levels to a depth of 3131 metres below bank.

Major current projects and customers include the Shaft 17 complex for Impala Platinum, Leeuwkop for Afplats, the Styldrift project for Anglo Platinum and Royal Bafokeng Resources, the Karee 3, Hossy and Saffy projects for Lonmin as well as RampuraAgucha for Hindustan Zinc Ltd and Kibali Goldmines for Randgold Resources. www.shaftsinkers.co.za