MACA Limited (Mining and Civil Australia)
MACA Limited (Mining and Civil Australia)
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Western Australia-based international contractor MACA has won Atlas Iron’s $A230M revenue over 62-months Corunna Downs iron ore mining services contract, 33km S of Marble Bar in the WA’s Pilbara region.
The project consists of open pit mining, including drilling/blasting and loading/hauling. It takes MACA’s total work-in-hand value to $2.2B.
MACA is currently also providing crushing services for Atlas at its Mt Webber operations and civil works at Corunna Downs.
Increasing growth in the scope of its works and additional minor contract awards have prompted Australian contractor MACA to lift its revenue forecast for the June 2020 year to over $A800M, from $770M previously.
MACA expects FY20 EBITDA to reach $110-114M (previously $104-110M) before a $2M impairment charge plus foreign exchange impacts arising from its Jan 2020 to withdraw its operations from Brazil.
Western Australia-based international contractor MACA has won the 8-month, $A38M revenue-generating public road upgrade/access road works contract for Atlas Iron’s Corunna Downs Iron Ore Project, 33km S of Marble Bar in WA’s northern Pilbara region.
The work includes the upgrade of a 22km section of public road and the development of 13km of access road, which, at its peak, will employ about 80 people. Work is expected to begin in the June 2020 qtr.
Australian-based international mining contractor MACA has reaffirmed its $A770M full year revenue guidance after lifting Dec half (H1FY20) revenue of $363.5M, up from $324M a year earlier.
EBITDA nearly doubled to $54.4M (H1FY19: $27.6M) and attributable NPAT to $12M ($8.1M) after a $2M impairment arising from its Jan 2020 decision to cease operations in Brazil. Operating cashflow rose to $29.4M ($18.8M).
Western Australia-based international contractor MACA is closing its operations in Brazil this month, following the early termination of its contract at Oz Minerals’ high-grade open pit Antas copper-gold mine in N Brazil’s Pará region.
The contract was due to conclude in 2020. The reduction in MACA’s work-in-hand position as a result of the early termination, is expected to be about $A8M.
First Quantum Minerals is targeting resumption of operations in Jan 2020 at its 100%-owned Ravensthorpe nickel mine near Western Australia’s southern coast, issuing a letter of award to contractor MACA for openpit mining services including drilling and blasting, loading and haulage.
The 5-year contract is expected to generate about $A480M revenue for MACA.
They’ve agreed all major items, with finalisation of documentation expected to enable mobilisation to site in Dec.
Australian-based international contractor MACA has been awarded a contract worth about $A26M to carry out bulk earthworks for access roads and infrastructure at Fortescue Metals’ $US2.6B Iron Bridge magnetite project in the WA Pilbara region 145km south of Port Hedland.
MACA has already begun work on the general earthworks for camp expansion, construction of 26km of mine access road, the explosive facility and access road plus a further 23km of road upgrades.
Mining contractor MACA is again supporting West Australian gold producer Blackham Resources as it works to simplify its capital structure and launches mine development programs at its Matilda-Wiluna operation 750km NE of Perth.
After advancing a $A12M working capital facility in June, MACA has temporarily increased it to $19M in a move that will enable Blackham to complete the repayment and discharge of a $23M Lind Partners funding package agreed in Sept 2018.
Stronger second half mining margins and operational cash-flow have had the predicted result of easing West Australian mining/civil contractor MACA’s mid-year profit plunge, ending the June year (FY19) with attributable NPAT of $A20.6M (FY18: $23.6M) and EBITDA of $70.7M ($78.8M).
The result was achieved on revenue of $665.7M ($562.6M). Operating cash-flow improved to $57.5M ($8.7M).
Australian mining contractor MACA has come to the aid again of Blackham Resources, advancing a $A12M working capital facility to support its transition to the first-stage expansion sulphide development of its Wiluna mining centre, 750km NE of Perth.
The new facility is separate to MACA’s $14.3M secured loan announced in March, but is covered within its existing security arrangements.