DRA Global
DRA Global
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
International engineering and consulting business DRA Global has won its first operations and maintenance services contract in the Asia-Pacific region with the award of a multi-million dollar contract by Bravus Mining & Resources at its Carmichael thermal coal mine in Australia.
DRA is no stranger to the central Queensland mine, where it was responsible for the coal handling and preparation plant engineering procurement and construction.
Australian-based engineering and consulting firm DRA Global expects its termination of legacy fixed-price construction contracts will see its Asia-Pacific business return to profitability in the Dec half-year (H2FY2022).
DRA's decline in H1 revenue to $A477.1M, from $569.3M in the corresponding period, sent underlying EBITA to negative $14M (H1FY2021: positive $32.5M) and underlying NPATA to negative $12M (positive $23M).
Engineering and consulting firm DRA Global has agreed to pay R118.4M to South African privateer Fraser Alexander to settle their dispute over the Elikhulu gold tailings retreatment project at Pan African Resources’ Evander operation in Mpumulanga in 2018.
Fraser Alexander initiated arbitration proceedings over a series of claims amounting to R502M over work it had done as a subcontractor to DRA on the R1.74B development.
Project delays, higher costs and lower productivity on top of contract disputes have Australian-based engineering group DRA Global facing a significant fall in revenue and earnings for FY2022, including a loss for the first half of the year.
Drivers in the result include a pre-tax $A10-15M impairment against goodwill in its Asia-Pacific business related to loss-making contracts and updated business outlook and a $2.7M arbitration award against the company over a dispute with Lesotho company Liqhobong Mining Development.
Strong international expansion strategies have enabled engineering, project management and operations company DRA Global to deliver strong improvements in revenue and earnings for the year to end December.
Australian-based DRA posted FY2021 revenue of $A1.19B (FY2020: $0.94B) for underlying EBITA of $62.1M ($58.9M) and NPATA of $50M ($45.5M).
Newly listed Australian-based engineer DRA Global has continued a five-year run of growth in its business and global footprint with the posting of 30%-plus increases in revenue and profit for the six months to June 2021.
For H1FY2021, prior to the company’s listing on the Australian and Johannesburg exchanges in July, DRA delivered revenue of $A569.3M - up from $432.2M in the corresponding period.
Australian-based explorer Sabre Resources has responded to zinc and lead prices at near 12-month highs by naming international engineer DRA Global to conduct a scoping study on its Border deposit in Namibia.
One of several lead-zinc prospects on Sabre’s 20km long Pavian mineralised trend, Border has a JORC resource of 16.2Mt @ 1.53% Zn, 0.59% Pb and 4.76g/t Ag at 1.25% cutoff. A 2.8km-long anomaly at the nearby Toggenburg prospect has a footprint over four times the size of the Border deposit.
Contract awards continue to flow for construction of Adani Australia’s Carmichael thermal coal project, with G&S Engineering named to carry out the design, engineering and construction of the 10Mtpa project’s coal handling plant in Qld’s Galilee Basin.
G&S will supply and construct the coal sizing and conveying equipment, stockpiling infrastructure and train load-out infrastructure.
Danakali has green-lighted development of the proposed long-life Colluli sulphate of potash opencut mine in Eritrea, issuing a notice to proceed to African specialist EPCM contractor DRA Global at the end of a 15-month preparation.
Australian-based Danakali’s 2015 DFS outlined a $US298M first phase capital cost development to produce an initial 425,000tpa SOP, growing to 850,000tpa over a mine life expected to exceed 200 years.
Australian rare earths developer Hastings Technology Metals has awarded the EPCM contract for the planned processing plant delivering 15,000tpa mixed rare earths carbonate at its Yangibana project in WA’s Upper Gascoyne region to DRA Pacific.
Exec chairman Charles Lew says the contract award to the DRA Global arm moves the Yangibana project into development phase heading for production by 2022.
The value of works directly under the contract is estimated at $A350M.