Macmahon wins mining services contract in RI
Friday, November 13 2015 - 05:01 AM WIB
ASX-listed Macmahon Holdings Limited said it has been awarded a five year contract valued at approximately US$170 million to provide mining services at the Martabe gold mine, in North Sumatra.
The company said in a statement Thursday the contract was awarded by PT Agincourt Resources and will be delivered by Macmahon in a 50:50 joint venture with a leading Indonesian contractor.
The award of the contract, which will commence in January 2016, follows a competitive tendering process involving several mining contractors from Australia and Indonesia, it added.
Under the contract, the joint venture will provide the full scope of mining and bulk earthworks related services, including drill and blast, mining of waste materials, equipment hire and subcontractor management across three operating areas. Additionally, the contract requires the placement and compaction of material on the tailings storage facility embankments and pioneering works associated with access to new open pit mining areas.
Macmahon Chief Executive Officer, Sy van Dyk said the award of this contract further strengthened Macmahon?s presence in South East Asia.
Editing by Reiner Simanjuntak