Macmahon awarded $190m contract
Macmahon Holdings Limited (MAH) announced last night that it had been awarded a three-year contract valued at over $190 million by Syntech Resources to develop and operate the new Cameby Downs coal mine in the Surat Basin in Queensland. The company said the contract would see it undertake all mining activities for Stage 1 of the project, including planning, mine development, waste stripping, coal mining, coal preparation and train loading.
Macmahon CEO, Nick Bowen, said that the award was an excellent addition to the Mining Business’s growing portfolio of work.
“This award not only builds on our expertise in coal mining, it is also the first contract where we will operate and maintain the Coal Handling and Preparation Plant,” Mr Bowen said.
“This contract win allows us to further develop our expertise in this area and provide customers with a full suite of services.”
The company said production would commence in July 2010 with the first coal train load expected in October 2010.
Macmahon said at full production in Stage 1, the mine would produce 1.4 million tonnes each year of thermal coal for export via Port of Brisbane, while stage 2 production is targeted at shipping in excess of 10 million tonnes via Port of Gladstone.
At the close of trade Tuesday, Macmahon shares were trading at 74c.
Leave a Reply