North American Construction awarded contract by copper producer in Australia

North American Construction (NOA) announced that the MacKellar Group has been awarded an early works and development contract by a major copper producer in the Australian state of New South Wales. The project involves a wide range of production-related activities required for mining but is primarily based on the establishment of site infrastructure in a new mining area, initial overburden removal, and the closure of a previously used reclamation facility. The award of this project, expected to generate approximately $100M in revenue, is from a new customer based in New South Wales, a region that is also new to MacKellar, reflecting our objective of geographic and customer diversification. The project is set to begin in the first quarter of 2025 and completion is scheduled for the second quarter of 2026. The scopes will be completed at an operational long-life copper mine which operates continuously seven days a week, twenty-four hours a day. The heavy and light equipment required for the various work scopes will be sourced from existing owned and leased fleet with the majority of the fleet being equipment that has been transported from Canada. For clarity, the scopes included in this award were contemplated as unsecured work to be completed by existing fleet in the outlook for 2025 provided on December 5. While improving overall visibility and line of sight to now being over 90% of combined revenue midpoint for 2025, this award does not increase the company’s estimated ranges for next year.