Echo Resources has signed a letter of intent to award two mining contracts to MACA for its Yandal gold project near Leinster, while also announcing a $6.5 million capital raising backed by major shareholder Northern Star Resources.
thyssenkrupp Industrial Solutions Australia will design and build the world’s largest rail-mounted stackers in Western Australia after winning a $250 million contract for BHP Group’s $4.6 billion South Flank iron ore project.
Austal will build a ferry for the government of Trinidad & Tobago, in a deal worth approximately $97.7 million, while also announcing it had won an advanced $54.9 million order for materials to construct a transport vessel for the US Navy.
Subcontractors WA chair Louise Stewart has welcomed the state government’s decision to expand the use of project bank accounts (PBAs) to protect subcontractors, but is pushing for the introduction of legally binding statutory trusts.
Shares in Matrix Composites & Engineering have jumped 16 per cent today to trade at 43 cents each, after the Henderson-based oil and gas services company announced it had won a $15.3 million contract.
Adco Constructions has secured a contract to complete expansion works at Bunbury Regional Prison, while EMCO Building will construct a new performing arts centre at Melville Senior High School.
The administrators in charge of RCR Tomlinson have secured funding to support the engineering contractor’s operations, and disclosed that more than 180 parties have expressed interest in the planned sale of its business.
Local construction company Jaxon has been awarded a $10 million contract to build a new student accommodation facility at St George’s College at the University of Western Australia.
WestStar Industrial subsidiary Simpec has won a $1.7 million contract at Iluka Resources’ Cataby mineral sands project, located approximately 150 kilometres north of Perth.
PwC has joined KPMG, BIS Oxford Economics and Investec in winning advisory work on the partial privatisation of Landgate – with each adviser securing increasingly large contracts.
RCR Tomlinson, which grew rapidly to be one of Australia's largest engineering contractors with annual revenue of $2 billion, 3,400 staff and multiple contracts in WA, has been placed into administration after failing to secure new funding.
Zenith Energy has amended its power purchase agreement with Northern Star Resources to add a further 6-megawatts to its power station at the Jundee gold mine.
RCR Tomlinson has been served with a shareholder class action, as the engineering contractor requested a one week extension to its suspension from the ASX while it seeks to clarify its earnings outlook and funding requirements.
Shares in NRW Holdings have jumped 7.14 per cent today, after the mining contractor said it expected a 45 per cent uptick in revenue for the six months to December compared with last year.
