MACA (ASX:MLD) wins $480 Ravensthorpe contract

Company News

by Rachael Jones

Contractor MACA (ASX:MLD) has received a letter of award from First Quantum Minerals for open pit mining services at the Ravensthorpe nickel project in southern Western Australia.

It is expected to generate approximately $480 million in revenue for MACA over the initial 5 year term.

Mobilisation to site is expected to start next month with operations commencing from January.

The project will consist of open pit mining services including drilling and blasting, and loading and hauling.

MACA’s total Work in Hand position now stands at $2.5 billion and FY20 revenue is now expected to be approximately $770 million.

Shares in MACA (ASX:MLD) are trading 2.48 per cent higher at $1.03.
 

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.