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Macmahon wins $61M from Rinehart’s HanRoy for Marble Bar Road upgrade, WA

ASX News, Industrial
ASX:MAH      MCAP $678.8M
03 October 2024 09:19 (AEST)
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Macmahon (ASX:MAH) has announced it’s won a $61M contract from Gina Rinehart’s HanRoy to upgrade the WA-based Marble Bar Road.

For the uninitiated, Marble Bar is a historic (and current) mining centre for WA mining operations; the 435km long road stretches from WA’s northwest coast down into the centre of the state.

It is frequently used as a haul road along both of its sealed and unsealed sections before eventually intersecting with other major highways; a number of mining operations use the asset – but HanRoy are the body issuing $61M in funding to get it done.

In all technicality, the contract goes to Macmahon subsidiary Decmil. Of the total stretch of road, only some 23km will be subject to upgrades with works now kicking off in October. Upgrades will harmonise with Main Roads WA (regulator) standards.

The company noted overall FY25 guidance is unchanged, still sitting at between $2.4B and $2.5B.

“I am pleased to see Decmil continue their great start of securing new, strategically aligned work,” MAH chief Michael Finnegan said.

“We look forward to delivering the Marble Bar Road upgrade project and continuing to build our relationship with HanRoy.”

MAH last traded at 31.5cps.

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