Macmahon JV wins $238m contract

A joint venture that includes Perth-based Macmahon Holdings has won a $US170 million ($A238 million) contract for work at PT Agincourt Resources’ Martabe gold project in Indonesia.

Under the scope of work, Macmahon and an unnamed Indonesian contractor will provide mining and bulk earthworks, and other services including drill, blast, mining of waste materials, equipment hire and subcontractor management across three operating areas of the project.

The contract also required the joint venture to place and compact material on tailings storage facility embankments at Martabe, along with pioneering works associated with access to new open-pit mining areas.

The contract is for a five-year term, to begin in January next year.

Macmahon chief executive Sybrandt van Dyk said the contract further strengthened the company’s presence in South-East Asia.

“We are very pleased to have secured this work and look forward to a long and rewarding association with our joint venture partner,” he said.

“We also welcome the opportunity to further strengthen the positive relationship we have developed with our new client during the tender process.”

Yesterday, Macmahon announced it had been awarded a $62 million per annum contract for similar work at Newcrest Mining’s Telfer gold project in the Pilbara.

Macmahon shares were 2.1 per cent higher to 9.6 cents each at 10am.