The CEO of Murray & Roberts’ mining business Japie du Plessis says the contractor’s purchase by South African hedge fund manager Differential Capital has “preserved a business with exceptional technical capability”.
The mining arm of former Johannesburg-listed Murray & Roberts Holdings, which went into administration in 2024, has about 2600 employees and generated about US$740 million of predominantly mining-related revenue last year. Mining work made up 97% of its order book at the end of FY2024.
“This is much more than a change in ownership; it is the start of a new chapter for us,” said du Plessis, a long-time mining business executive within the group.
“Throughout this process our employees continued to deliver, our clients continued to place their trust in us and together we have preserved a business with exceptional technical capability. We are now focused on building on those foundations.”
The Murray & Roberts mining business includes its Cementation operations in Africa and the Americas, as well as Terra Nova Technologies.
Differential Capital, about 25% owned by South Africa’s Standard Bank Group, reportedly had circa-$300 million of assets under management in mid-2025.
Differential fund head Mark Salmon said mining remained a foundation of South Africa’s economy.
“What attracted us was not simply the investment opportunity but the opportunity to preserve a world-class mining services platform with deep technical expertise and a highly skilled workforce,” he said.
“By retaining these capabilities this transaction delivers meaningful value not only for our investors but for employees, clients, suppliers and the broader mining ecosystem. It is an example of how long-term capital can be deployed to generate both commercial returns and positive economic and social outcomes.”
