Monadelphous wins $100m contract with Rio

Engineering company Monadelphous has secured a five-year, $100 million contract for maintenance work across Rio Tinto’s iron ore mines in Western Australia.

Under the contract, Monadelphous will provide mechanical and electrical plant maintenance services, including shutdowns and scaffolding.

The announcement comes three months after Monadelphous was awarded a $100 million construction contract for Rio’s West Angelas project in the Pilbara, alongside BGC which secured earthworks and civil construction at the site.

Monadelphous managing director Rob Velletri said the recent maintenance services contract would allow the company to build its long-standing relationship with Rio.

“Our focus will be on the delivery of safe, reliable, innovative and cost-effective solutions,” Mr Velletri said.

“We have seen significant growth in our maintenance division over the last two years, with a more than 50 per cent increase in revenue.

“This award, which is a continuation of the provision of maintenance services to Rio, ensures a strong pipeline of future work within the iron ore sector in the Pilbara.

Monadelphous has provided services to Rio’s iron ore operations for more than 25 years.

Shares in Monadelphous were up 4.23 per cent to trade at $16.02, while shares in Rio Tinto were down 0.83 per cent to trade at $94.41, as at 4:10pm AEDT.