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Macmahon Holdings (ASX:MAH) - Managing Director & CEO, Michael Finnegan - The Market Herald
Managing Director & CEO, Michael Finnegan
Sourced: The Australian
  • Mining services provider Macmahon (MAH) has been selected as the preferred tenderer to provide its services at the Foxleigh mine in Queensland
  • The company expects the work will bring in around $250 million in revenue but will allocate $50 million to spend on long-lasting dump trucks
  • Over five years, Macmahon will be in charge of hiring and maintaining 21 large capacity dump trucks and other equipment
  • On market close, Macmahon is trading for 23 cents

Macmahon (MAH) has been selected as the preferred tenderer to provide equipment hire and maintenance services at the Foxleigh mine.

The company expects the work will bring in around $250 million in revenue and require capital expenditure of around $50 million. Most of the capital expenditure will be used to buy 220-tonne dump trucks, which are expected to last 10 years.

The Foxleigh mine is located in the Bowen Basin in Queensland and is an open cut, truck and excavator operation. The mine produces low volatile Pulverised Coal Injection (PCI) coal for Asian steel mill customers.

Over five years, Macmahon will be in charge of hiring and maintaining 21 large capacity dump trucks and other ancillary equipment, as well as client-owned equipment.

CEO and Managing Director, Michael Finnegan, is pleased to be selected for the services at Foxleigh.

"We are very pleased to be selected as the preferred equipment and maintenance provider for the Foxleigh project, and we are looking forward to delivering for a new client in Queensland," he said.

"This selection highlights our expertise in sourcing and maintaining large scale mining equipment and our ability to offer a range of service models to our clients," he added.

At market close, Macmahon is trading for 23 cents.


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