March 12, 2013
Africa is one of the most strategic locations around the world for mine construction and speculation opportunities. In the February issue of Construction Headline News, we look at how recent political turbulence and labor strikes are causing many investors to think twice about projects in Africa, particularly in South Africa. Some mining companies are abandoning their presence there and instead looking to West Africa for prospects. Read on to discover the strategies being explored to get the African mining industry back on solid ground and some of the investors hoping to capitalize in this risky environment.
Also in this month’s issue, the contractor of the Winnipeg stadium in Canada is in a legal battle with a subcontractor over delays and defects in construction worth over $15.6 million. Also in dispute is the VA hospital in Orlando, in which the US Department of Veterans Affairs has forced Brasfield & Gorrie to show cause as to why they should not be fired from the $665 million job, which is suffering from change order-caused delays. On the other side of the globe, Russia’s Gazprom is prepared to invest another $16.8 billion, on top of the $16.9 billion already earmarked, into its gas pipeline system that will be compatible with the South Stream undersea link. Also in Russia, the 2014 Winter Olympics in Sochi are on track to become the most expensive in history, with a price tag at over $51 billion - over four times original estimates.