Emeco (ASX:EHL) enters contract with Mincor Resources

Company News

by Rachael Jones

Emeco’s (ASX:EHL) Pit N Portal today executed a five-year contract with Mincor Resources NL (ASX:MCR) at its Kambalda Nickel Operations in Western Australia.

It is subject to Mincor issuing to Pit N Portal a Notice to Proceed by 31 March 2021.

Emeco (ASX:EHL) expects Operating EBITDA for FY20 to be in the range of $244 million to $247 million.

They did report that COVID-19 has impacted their 2H20 earnings through some additional costs and the fall in coal price resulting in a reduction in utilisation in the Eastern Region.

The Western Region and the Force Workshops continue to perform well.

Shares in Emeco (ASX:EHL) are trading 13.74 per cent higher at $1.20.