MACA hails strong iron ore, gold markets

MACA has flagged that its strong streak of mining contracts will continue into the 2021 financial year.

The mining contractor is currently seeing positive market conditions through both its mining and civil construction sectors.

Speaking at the company’s 2020 annual general meeting, MACA chairman Andrew Edwards said the company was expecting over $850 million in revenue during the 2021 financial year.

“We are targeting enhanced operating performance across all of MACA’s operating segments,” he said.

Since the start of this financial year, MACA has been awarded a number of major contracts, including Atlas Iron’s Corunna Downs project, Capricorn Metals’ Karlawinda project, Fenix Resources’ Iron Ridge project, the South West Gateway Alliance (BORR) of which MACA is a member, and Red 5’s King of the Hills EPC (engineering, procurement and construction) project.

In addition to the new contracts, MACA also expects contract extensions at Ramelius Resources’ Mount Magnet extension project in Western Australia and BHP’s Eastern Ridge crushing, also in Western Australia, to assist in the company’s revenue growth.

The company recorded a work-in-hand position of $2.4 billion in September 2020.

MACA managing director Mike Sutton said the contract wins and extensions represented strengthened gold and iron ore markets in Australia.

“The improved performance of our mining division in FY20 is expected to continue into FY21, with the first quarter project awards listed above driving growth in the buoyant market,” he said.

“Closely related, MACA’s crushing division will continue to pursue additional opportunities with new clients and leverage opportunities within our existing client base, with a number of advanced opportunities in the pipeline.”

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