R1.27 Billion Murray & Roberts Mining Deal Secures 2,600 Jobs
R1.27 Billion Murray & Roberts Mining Deal Secures 2,600 Jobs. Murray & Roberts Limited has completed the sale of its global mining services businesses in a R1.27 billion transaction, marking a major milestone in the company’s ongoing business rescue process while securing approximately 2,600 jobs.
The transaction, led by Differential Capital, establishes an independent mining services platform that includes Cementation’s operations across Africa and the Americas. According to the company, the deal forms a key part of the business rescue plan that began after Murray & Roberts entered voluntary business rescue in November 2024.
The purchase price consists of an initial payment of R1 billion upon completion of the transaction, with a further R270 million scheduled to be paid 12 months later.
Josh Cunliffe of Metis Strategic Advisors, one of the jointly appointed business rescue practitioners for Murray & Roberts Limited, described the transaction as a significant achievement in the rescue process.
He said the primary objective throughout the process had been to preserve viable businesses, protect jobs and maximise value for creditors while ensuring the specialist mining businesses could continue contributing to South Africa’s economy.
Cunliffe also acknowledged the role played by employees, creditors, funders, management, regulators and transaction partners in bringing the deal to completion.
Differential Capital said the investment was driven by the opportunity to preserve an established mining services business with specialist engineering expertise and a skilled workforce.
Mark Salmon, Head of Special Situations Fund at Differential Capital, said businesses such as Cementation and TNT play an important role in supporting the mining industry, adding that retaining these capabilities benefits investors as well as employees, suppliers, clients and the broader mining sector.
Throughout the transaction process, Cementation continued operating without entering business rescue and maintained its existing workforce and project delivery capabilities.
The company is currently working on several major projects, including a five-year underground mining development and construction contract at Tharisa Minerals in South Africa, projects at Mopani Copper Mines in Zambia, and additional contracts across the Americas. It also reported a strong pipeline of future international projects.
Following completion of the transaction, Japie du Plessis has been appointed Chief Executive Officer of the new group, while Sibulele Songca takes on the role of Chief Financial Officer.
Du Plessis said the transaction provides certainty for the business to focus on its next stage of growth, noting that employees continued delivering for clients throughout the business rescue process.
Although the mining services sale has now been completed, the business rescue process for Murray & Roberts Limited remains underway.
The business rescue practitioners confirmed that proceeds from the transaction have enabled the settlement of all secured lender debt and secured post-commencement finance obligations. They added that unsecured creditor distributions are not currently expected until the deferred R270 million payment has been received, with creditors to be updated as the process continues.
