METS

Monadelphous wins $220M in mining work

Contracts with blue-chip clients

Staff reporter

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The majority of the contract wins were in the Pilbara iron ore sector.

Monadelphous was awarded a five-year contract to provide maintenance, repairs, general shutdown services and minor projects across Fortescue Metals Group's Pilbara operations.

Rio Tinto awarded the company a multi-disciplinary contract for the construction of a new conveyor at the Tom Price iron ore mine, which is expected to be completed in the first half of 2023.

It also picked up work at Roy Hill, where it will build a pipeline and access road.

In Queensland, Monadelphous secured a 12-month extension to its existing contract with BHP Mitsubishi Alliance for the provision of dragline shutdown and maintenance services to its operations in the Bowen Basin.

It also picked up a five-year contract to provide coating and concrete repair services for the Water Corporation in Western Australia.

Monadelphous shares closed at $9.87 yesterday, valuing the company at $934.3 million.

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