- Mining and resources company Maca (MLD) has finalised a three-year hire and maintenance contract with Citic Pacific Mining
- Starting in April this year, the contract is expected to bring in $200 million in revenue for Maca over the period
- More specifically, the award is for work at Citi Pacific Mining Management’s Cape Preston Sino Iron magnetite project in Western Australia’s Pilbara region
- As at February 2021, Maca’s work in hand position at February clocked in at $3.4 billion
- Maca has closed the day up 2.40 per cent following the news at $1.07 per share
Mining and resources company Maca (MLD) has finalised a three-year hire and maintenance contract with Citic Pacific Mining.
The contract award is for CITIC Pacific Mining Management’s Cape Preston Sino
Iron magnetite project, which is situated 100 kilometres southwest of Karratha in the Pilbara region.
According to Maca, the contract is expected to generate $200 million in revenue for the company over a 36-month term, commencing in April this year.
As at February 2021, Maca’s work in hand position at February clocked in at $3.4 billion.
Maca’s chief executive officer Mike Sutton spoke highly of the contract win.
“MACA is very pleased to continue working with CITIC Pacific Mining at the Sino Iron magnetite project, and we value the long-standing relationships we have with our clients at this pioneering mega project,” he commented.
“The current CPM contract was novated from Downer to MACA, following the acquisition of the Mining West business, and it’s pleasing to have now secured this three-year extension,” he concluded.
Maca has closed the day up 2.40 per cent following the news at $1.07 per share.