MACA flags Sino Iron project extension potential

Iron ore

MACA is set to secure a three year project extension at CITIC Pacific Mining’s Sino Iron operation at Cape Preston in Western Australia.

The Cape Preston contract was derived from Mining West, part of Downer’s mining division that MACA acquired in December last year.

According to MACA, the final contract award is subject to finalisation.

MACA also sees growth potential at the sites of the other Western Australia-based clients that previously dealt with Mining West.

This includes Ansteel’s Karara iron ore project, Gold Fields and Gold Road Resources’ Gruyere gold joint venture project and Fortescue Metals Group’s Eliwana iron ore project.

Downer’s Mining West business unit was acquired by MACA for $175 million.

The deal adds 126 items of mobile plant to the company’s fleet, with around 98 per cent of Mining West employees retaining their jobs with MACA.

MACA is expecting improved performance to continue into this year, after securing over $3 billion in contracts in December.

This will be spearheaded by activity across the gold and iron ore sectors, which is expected to bolster MACA’s future business opportunities.

MACA’s revenue guidance for the 2021 financial year is anticipated to exceeded $1.05 billion, most of which has been secured in contracts.

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