Mine shaft specialist Shaft Sinkers (LON:SHFT) said there has been a delay in final signing of the Kazchrome Skipovaya vertical shaft development contract.
Talks over the US$75mln contract are going well, said the company, but will not now be concluded by today (30 September) as previously indicated.
Kazchrome is one of the world's largest ferrochrome producers, and wants the vertical shaft to access a ferrochrome ore-body at the Donskoy ore processing plant in the Aktujbinsk region, Kazakhstan.
The scope of work includes the sinking and lining of an 8m diameter skip shaft to a final depth of 1,453 metres.