MACA flags second Brazil project

Company News


MACA Limited (ASX:MLD) says it has won a contract to provide open pit mining services to the Antas North Copper Project in Brazil. 
 
The WA-based services provider says it has received a Letter of Intent from Avanco Resources Limited (ASX:AVB) for the contract which is worth around $120 million over the five year period. 
 
It will be MACA’s second project in Brazil following an operations deal with Beadell Resources. The company will use relationships and infrastructure it has already developed in that deal to leverage into the drilling and blasting, loading and hauling work it will carry out at the Antas North project.
 
It will also expand MACA’s commodity base into copper for the first time. 
 
MACA reported a net profit of $34.72 million for the first half of the 2015 financial year.