- Engineering group Monadelphous (MND) has started the week with some major construction and maintenance contracts under its wing
- The ASX 200-lister signed on with both Rio Tinto (RIO) and BHP (BHP) in a string of new contracts worth a combined $60 million
- Monadelphous will carry out capital works for Rio across the Pilbara under three three-year master services contracts
- It also signed a three-year deal to conduct maintenance activities at the mining giant’s NT- based bauxite operations, with the option to extend for another two years
- In addition, MND will continue mechanical and electrical work at BHP’s WA nickel plays for another 12 months
- Following the announcement, Monadelphous shares jumped a slight 0.94 per cent to trade for $11.86
Monadelphous (MND) has started the week with some major construction and maintenance contracts under its wing.
The ASX 200-lister signed on with both Rio Tinto (RIO) and BHP (BHP) in a string of new contracts worth a combined $60 million.
Under its agreements with Rio Tinto, Monadelphous will carry out capital works throughout WA’s Pilbara region. Specifically, it’ll be responsible for structural, mechanical and piping jobs, as well as some infrastructure projects.
Overall, the works will fall under three three-year master services contracts with the mining giant.
In addition, Monadelphous has also secured another three-year contract — which comes with an option to extend for another two years — to carry out mechanical, electrical and access maintenance services at Rio’s NT-based bauxite operations.
On top of the wins with the resources titan, MND has secured a one-year extension with existing client BHP.
As a result, the engineering group will continue providing mechanical and electrical maintenance, as well as shutdown and project services, across BHP’s WA nickel operations.
Following the announcement, Monadelphous shares jumped a slight 0.94 per cent to trade for $11.86 at 12:23 pm AEDT.