BRIEF-GR Engineering Services reaches settlement with unit of St Barbara

Oct 10 (Reuters) - GR Engineering Services Ltd :

* Reached agreement with unit of St Barbara Ltd to settle arbitration

proceedings commenced by GR Engineering

* Arbitration related to recover outstanding costs and associated damages

relating to a lump sum epc contract at gold ridge mine

* St barbara's unit will pay $2.65 million; settlement will result in a further

write-off of $0.49 million against amount owed by grml

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