Macmahon Secures $463m Awak Mas Gold Project Contract in Indonesia

An announcement from Macmahon Holdings Limited ( (AU:MAH) ) is now available.

Macmahon Holdings Limited has been appointed as the mining services contractor for the Awak Mas gold project in South Sulawesi, Indonesia, by PT Masmindo Dwi Area, a subsidiary of PT Indika Energy. The contract, valued at approximately $463 million, spans seven years with an optional five-year extension and will commence in the first half of 2025. Macmahon plans to utilize its existing fleet for the project, with a growth capital of around $17 million over four years, aligning with its annual growth capital target of $30 million. This project will bolster Macmahon’s secured order book without altering its FY25 capital expenditure budget or earnings guidance. The appointment strengthens Macmahon’s position in the mining industry, leveraging its established relationships and low-capital solutions.

More about Macmahon Holdings Limited

Macmahon Holdings Limited is an ASX-listed company that provides comprehensive mining and civil infrastructure services across Australia and Southeast Asia. The company excels in surface mining, underground mining, and civil infrastructure, establishing itself as a preferred contractor for resources, non-resources, public infrastructure, and renewable projects. Macmahon emphasizes building strong, transparent relationships with clients to ensure mutually beneficial outcomes while minimizing risks.

YTD Price Performance: -3.64%

Average Trading Volume: 2,500

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $450.9M

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