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In Brief: Macmahon wins drilling contract

MOLY Mines Ltd has awarded a $1.1 billion, seven-year mining and earthmoving contract for its Spinifex Ridge molybdenum project to Perth-based contracting group Macmahon Holdings Ltd. Moly Mines managing director Derek Fisher said the contract was the largest single contract to be awarded for the project. “The signing of the mining contract is a significant step forward in developing the world’s next major molybdenum mine,” he said. During this contract the open pit mine will be developed to a size of 1.2 kilometres by 1.1km and to a depth of more than 400 metres. Mining development is expected to commence in mid 2008, with a 32 million tonne waste pre-strip completed prior to the commissioning of the processing facilities. “As a Western Australian company it is particularly pleasing to be able to sign this major deal with a Perth-based contractor,” Dr Fisher said. During the seven-year term of the contract, Macmahon will mine more than 180 million cubic metres of material and employ a permanent site workforce of about 270 operators.

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