MACA wins $285m SA mining contract

Mining contractor MACA has won its first job outside Western Australia, after being appointed to provide mining services at WPG Resources' Peculiar Knob iron ore mine in South Australia for $285 million.

MACA announced today that ithad been awarded a 70-month contract at Peculiar Knob, near Coober Pedy, by WPG subsidiary Southern Iron.

WPG Resources plans to export 3.3 million tonnes per annum of high grade direct shipping ore from Peculiar Knob once production commences.

The contract follows a successful 2010 for MACA, which completed one of the larger initial public offerings of the year.

With Hartley as sole broker, MACA raised $60 million at $1 per share. The company listed in October at $1.70 per share and finished the year at $1.75.

At 9:14AM MACA shares were up 6.4 per cent, trading at $2.60.