MACA (ASX:MLD) wins $480 Ravensthorpe contract

MACA (ASX:MLD) wins $480 Ravensthorpe contract


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.
Copyright 2019 – Finance News Network

Source: Finance News Network

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