MACA Limited (Mining and Civil Australia)
MACA Limited (Mining and Civil Australia)
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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.
West Australian miner Blackham Resources is backed by its key stakeholders, contractor MACA and fund manager Lind Partners, with exec chairman Milan Jerkovic to support a $A25.8M capital raising for the planned expansion of its Matilda-Wiluna gold project.
MACA and Lind will sub-underwrite the entitlements issue for a total $10M from amounts owed to them, and Jerkovic will sub-underwrite $1M in addition to taking up $160,000.
A “very disappointing” Dec 2018 half (H1 19) with the previously strong performing mining division experiencing a decline in margins, a tightening labour market and slow delivery of new equipment, has seen West Australian mining/civil contractor MACA's net profit after tax plunge to $A8.1M, down 32% on H1 18, despite revenue up 14% to of $324M.
Australian-based contractor MACA has extended its long relationship with Emerald Resources, signing an MoU to conduct load, haul, drill and blast operations at the 100%-owned Okvau gold project 275km NE of Phnom Penh in Cambodia.
The MoU is subject to a final investment decision on the proposed development producing 106,000ozpa from a single openpit over 7 years.
The contract equates to $US220M revenue over 7 years, with an option to extend.
West Australian contractor MACA has been appointed to refurbish and install a new SAG mill in the existing mineral processing plant at Adaman Resources’ Kirkalocka gold project near Mt Magnet.
The 8-month project, valued at $A28M, begins in Feb 2019 subject to finalisation of project finance.
Mining, contracting and civil contractor MACA has clinched a $A700M, 10-year LoM contract with Wealth Mining-owned Carabella Resources P/L for the Bluff Coal Project near Blackwater in the Bowen Basin in Queensland, Australia.
The contract, which includes all open pit mining activities -- planning, procurement, management/supervision, load/haul, drill/blast and water management -- brings MACA’s current work-in-hand to $1.98B.