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Maca (ASX:MLD) - Operations Director, Geoff Baker - The Market Herald
Operations Director, Geoff Baker
Sourced: Business News
  • Mining and civil services contractor Maca (MLD) has been awarded a $185 million contract for Fenix Resources' (FEX) Iron Ridge Project in WA
  • Maca will provide open pit mining, crushing, screening and stockpiling services at the project over 75 months
  • Maca's total work-in-hand position now sits at $2.9 billion, thanks to the latest contract and increased scope from other projects
  • The company will begin project works sometime this quarter
  • Maca's shares have ended the day up a slight 0.63 per cent to close for 80 cents whereas Fenix ended the day in the grey with shares closing flat at 14.5 cents

Mining and civil services contractor Maca (MLD) has been awarded a contract for Fenix Resources' (FEX) Iron Ridge Project in Western Australia.

Maca will provide open pit mining, crushing, screening and stockpiling services at the iron ore project's site. Significantly, the contract is expected to generate around $185 million in revenue for Maca over the 75-month term.

"We are pleased to have been awarded the Iron Ridge Open Pit Mining and Crushing and Screening contract and look forward to working with Fenix as it transitions towards operations," Maca CEO Mike Sutton said.

"This contract with Fenix builds on our workload in the iron ore sector with a new client for both our Mining and Crushing divisions," he added.

Fenix's Iron Ridge Project is located 600 kilometres north-northeast of Perth and 67 kilometres northeast of Cue in WA's Murchison region.

The project hosts a total mineral resource of 10.5 million tonnes at 64.2 per cent iron, 3.26 per cent silicon dioxide, 2.57 per cent aluminium oxide and 0.046 per cent phosphorous.

The latest contract and increased scope from current projects mean MACA's total work-in-hand position now sits at $2.9 billion.

The company will begin works at the site sometime this quarter.

MACA's shares have ended the day up a slight 0.63 per cent to close for 80 cents whereas Fenix ended the day in the grey with shares closing flat at 14.5 cents.


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