MACA Limited (Mining and Civil Australia)
MACA Limited (Mining and Civil Australia)
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Capricorn Metals has resumed load and haul mining operations at its Karlawinda gold mine in Western Australia’s Pilbara after a three-week shutdown resulting from the death of an employee of mining contractor MACA.
The company says it is continuing to work with MACA and state mining and safety authorities on their investigations into the collision between two mine vehicles.
Production has been suspended at Capricorn Metals’ Karlawinda gold mine in the West Australian Pilbara region following the death of an employee of mining contractor MACA.
Capricorn says police were called to the mine site 65km SE of Newman following the incident, the mine’s emergency response team is assisting and state mining authorities have been notified.
Major engineering services company Thiess is on the brink of implementing the compulsory mop up of Western Australian contractor MACA after announcing its agreed $A350M cash takeover offer lifted its relevant interest to 91.48% of the target company’s shares.
Thiess will become entitled to compulsorily acquire the remaining MACA shares once it has completed the acquisition of at least 75%.
It has previously stated it will exercise its entitlement once the target is reached.
West Australian contractor MACA has secured continued work in the lithium sector beyond the expected end of its current mining services engagement at Pilbara Minerals’ Pilgangoora project in late 2022 with a new maintained and operated fleet deal with Allkem at its Mt Cattlin project.
MACA expects the contract to generate about $A12M revenue over six months, and has potential to lead to further work at the Ravensthorpe mine. The company will utilise existing MACA fleet.
West Australian mining and civil contractor MACA is standing by its agreed $A350M cash takeover by major engineering services company Thiess, labelling it superior to a rival proposal by fellow contractor NRW Holdings.
NRW is offering $1.085 per MACA share compared to $1.025ps by Thiess, but the target says the value of the original all-cash bid is more certain than its rival’s indicative proposal.
However, MACA says it’s prepared to have another look if NRW is prepared to come up with a less risky proposal.
The co-founder of West Australian mining and civil contractor MACA, Geoff Baker, has described as “compelling” the $A350M off-market cash takeover offer from major engineering services company Thiess.
Geoff Baker, the company’s chairman, says the subsidiary of construction company CIMIC and US hedge fund Elliot Management is the right partner with similar values and enhanced services for clients.
Mining and civil contractor MACA has won the early works contract at Rio Tinto’s Western Range iron ore project, 8km W of Paraburdoo in the West Australian Pilbara region.
MACA will commence pre-approval works including construction of a camp pad and access road as well as crushing and screening work by year-end. The contract, to take about 12 months, is expected to generate about $A60M revenue.
COVID-related labour hire challenges have EPC contractor MACA struggling with cost overruns on the process plant project at Red 5’s King of the Hills development in the West Australian Goldfields.
MACA says the fixed-price contract held by 60%-owned mineral processing arm MACA Interquip is the group’s only current under-performing contract.
Despite difficulties finding and retaining skilled construction workers, MACA says it remains on track for commissioning in the current quarter.
Leading Australian-based contractor MACA is promising improved safety and productivity after signing an MoU for the deployment of autonomous mining fleets.
The early 2021 acquisition of Downer EDI’s Mining West business has enabled Australian-based international mining and civil works contractor MACA to lift revenue from continuing operations by 80% to $A841.1M for the Dec half-year (H1FY22) from $467.3M in the previous corresponding year.
EBITDA rose to $102.2M (H1FY21: $69.6M) and NPAT to $22.2M ($19.4M).
MACA says a very strong pipeline of opportunities was countered by lost productivity and some wage escalation reflecting by the tight market for skilled workers.