MACA wins Ravensthorpe contract

MACA has received a letter of award from First Quantum Minerals for open pit mining services at the restarting Ravensthorpe nickel project in southern Western Australia.
MACA wins Ravensthorpe contract MACA wins Ravensthorpe contract MACA wins Ravensthorpe contract MACA wins Ravensthorpe contract MACA wins Ravensthorpe contract

Staff reporter

The five-year contract, which is subject to final documentation, is expected to generate A$480 million in revenue.

The scope of work comprises open pit mining services including drilling and blasting, and loading and hauling.

Mobilisation to site is expected to start next month with operations kicking off in January.

The mine has been suspended since late 2017 due to weak nickel prices.

MACA managing director Geoff Baker said the company looked forward to developing a long-term working relationship with First Quantum.

"First Quantum have focused on local and Aboriginal opportunities in the regions of Albany, Ravensthorpe and Esperance in order to resource the Ravensthorpe project which MACA intend to leverage from," he said.

"This project will generate another 230 jobs bolstering the local and regional communities."

MACA's total work-in-hand position now stands at $2.5 billion and FY20 revenue is now expected to be approximately $770 million, up from the previous forecast of $720 million.

Shares in MACA were 1% higher at $1.02, valuing the company at around $273 million.