MACA Limited (Mining and Civil Australia)
MACA Limited (Mining and Civil Australia)
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West Australian miner Doray has issued a letter of intent for an openpit mining contract at its planned 74,500oz pa Deflector gold mine in the southern Murchison region to Perth-based MACA. The $A41M contract is for 11 months of Deflector's planned initial 6-year mine life.
MACA, which recently completed works on Doray's Andy Well mine, will mobilise to site early 2016 ready to begin mining services including drilling and blasting, loading and hauling in Feb.
Avanco remains on track for completion of pre-production mining and construction works to begin commissioning early in the Jan 2016 qtr at its $US60M Antas openpit copper development in northern Brazil.
Mining contractor MACA is well advanced on mobilising the mining fleet and pre-stripping of the openpit commenced. Antas is forecast to ramp-up to about 12,000tpa copper and 7,000oz pa gold, with concentrate off-take due to be executed in Dec.
After producing a steady June 2015 (FY2015) after tax net profit of $A54.4M in a tough environment, down 1.8% on 2014, Western Australian-based mining/civil contractor MACA has flagged a drop in FY2016 revenue to $450M+ from the latest $601.4M.
Aussie contractor MACA flags potential $250M FY2016 revenue fall after steady FY2015 $54.4M profit in a tough environment
Australian contractor MACA has received a letter of intent from Avanco Resources to provide openpit mining services including drilling and blasting, loading and hauling at its Antas North copper project in northern Brazil.
The contract, which will be MACA’s second in Brazil behind its work for Beadell Resources at the Tucano gold mine, is expected to generate about $A120M revenues over 5 years.
Australian iron ore junior Atlas confirms it raised $A87.2M through its offer of shares at 5cps, part of a capital-raising to help it counter volatility in the iron ore and financial markets.
After Atlas reached innovative shares for services deals with major suppliers and service providers in May, contractors now comprise four of its top 7 shareholders – BGC Contracting with 17.33% (1), McAleese Resources 10.51% (2), MACA Mining 3.6% (6) and QUBE Bulk 3.48% (7).
Iron ore junior Atlas will resume full operations at its West Australian mines after negotiating innovative new contractor deals that reduce its costs to break-even at iron ore prices of $50/dmt. John Feary reports
Australian ore trucker McAleese is happy with a new profit share deal with iron ore junior Atlas that is allowing work to resume at its Pilbara mines.
McAleese is among the key contractors that have agreed on revised terms that allow Atlas to cut production costs and reverse its planned shutdowns. While its base haulage rate will be lower, McAleese says the agreements provide upside profit share linked to the iron ore price.
Mine contractor MACA has resumed work at Abydos and has also gained 17 months’ work at over $A4.2M pm at Wodgina.
The ripples from Atlas Iron’s decision to close its three West Australian mines continue to spread.
Bulk hauler McAleese has suspended its shares on ASX to consider the implications of its $A470M, 4-year road haulage contract. Abydos mine contractor MACA says the loss of its $4-5M monthly income will cut FY2015 revenue to about $600M but still expects net profit after-tax to exceed last year’s $55.4M. Logistics firm Qube says its diversification strategy means the loss won’t have a material financial impact.
Australian-based mining and civil contractor MACA credits its strategic entry into South America and increased exposure to gold for its 6.2% increase in after-tax profit to $A34.7M for the six months to Dec 2014 (H1 FY15). Revenue rose 4.4% to $319.7M.
Despite having two contracts close since year end due to falling commodity prices, MACA reaffirms its FY15 net profit should exceed FY14’s $55.4M on revenue of about $620M and anticipates a “very strong positive working capital movement”.