MACA gets $130m extension

Welshpool-based MACA has secured its second mining contract this month after receiving a $130 million extension of works from Ramelius Resources.

MACA, which has worked at Ramelius’s Mt Magnet goldmine in Western Australia since 2017, will continue its mining services for a further three years.

The contractor also provides services to Ramelius’s Edna May goldmine in the Archaean Yilgarn Craton.

MACA managing director Mike Sutton said the Ramelius contracts made up an important part of MACA's work-in-hand in the gold sector.

The company says its order book now stands at $2.3 billion.

That includes a $230 million, five-year contract signed with Atlas Iron earlier this month for work at the recently approved Corunna downs project in the Pilbara.

MACA also said this month it remained in a strong financial position, with cash of $113 million and debt of $74 million, as at June 30.

This follows a $110 million capital investment in plant and equipment, MACA said.

The company was trading 4.9 per cent higher at 12:27pm AEST to 86 cents per share.