Macmahon receives notice of award for Boston Shaker underground mine

Company News

by Rachael Jones

Mining and construction company Macmahon Holdings (ASX:MAH) has been given a notice of award by AngloGold Ashanti (ASX:AGG), its client at the Tropicana gold mine in Western Australia, for the development of the new Boston Shaker underground mine.

The Tropicana project, which is a joint venture between AngloGold Ashanti (70% and manager) and Independence Group NL (30%), is already Macmahon’s largest mining contract in Australia.

The addition of the Boston Shaker underground work is worth approximately $170 million over five years.

Capex for the underground works is estimated to be approximately $30m, and will be primarily spread across the first three years.

Shares in Macmahon Holdings (ASX:MAH) trading 2.22 per cent higher at 23 cents 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.