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.

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.