Mota-Engil wins $357 million contract to extract gold in Mali
The Portuguese construction company will work in consortium with a local company on three gold mines in that African country over the next seven years. The contract is worth $357 million.
Mota-Engil has won a mining contract worth $357 million in Mali, where it will work with a local company on three gold mines over the next 81 months.
This project will be developed by the Portuguese construction company in partnership with a local company, Inter-Mining Services (70%/30%), with the contract being awarded by Societé des Mines de Morila, which is 80% owned by an Australian listed company and 20% by the state of Mali, according to a statement sent to the Securities and Exchange Commission (CMVM).
“The aforementioned contract, which scope will cover three gold mines, is scheduled to start in August 2021, will have a duration of 81 months and will have the billing and payments indexed to USD,” the national company said.
Mota-Engil also stresses that the award of this contract allows it to strengthen its order book in the African region “with a medium and long-term contract that will generate recurrent cash flows.”
