Macmahon inks equipment hire deal

Company News

Macmahon Holdings Limited (ASX:MAH) has announced the finalisation of an agreement with the Australian subsidiary of Gold Fields Limited, St Ives Mining Company Pty Limited. 
 
Under the agreement, Macmahon Holdings will provide a hire fleet of large scale open cut mining equipment and associated services at the St Ives gold mine near Kambalda in Western Australia.
 
The hire services are scheduled to commence in late November 2015. The fleet will be used to deliver additional capacity to the St Ives gold mine.
 
The contracting company has said it expects revenue to be in the order of $2 million per month.
 
Macmahon Holdings recorded a net loss of $217.92 million at 30 June 2015.