GRD shares surge on UK waste contract

Shares in GRD surged after the mining and construction investor said it was the preferred bidder to manage a billion-dollar waste project in Britain.

The Perth-based company, which owns 57 per cent of listed Otago miner Oceana Gold, said its subsidiary Global Renewables had been selected as the preferred bidder to design, build, own and operate the Lancashire Waste Partnership, in northern England.

The stock, previously on a trading halt, rose 50c to $2.90.

The partnership is one of the biggest waste undertakings in Britain, spanning 15 local authorities. It is expected to generate annual revenue of $6 billion.