Mining services firm Macmahon (ASX:MAH) has secured a two-year, $90 million extension to its contract with gold miner Vault Minerals (ASX:VAU) at the Daisy Milano Mine.
The $743.5 million market capitalised company has been providing underground mining services at Daisy Milano, located within the Mount Monger operation in Kalgoorlie in Western Australia, since acquiring the contract earlier this year.
Macmahon’s responsibilities include mine development, production charging and load and haul services.
The contract will now run through to October 2026 and utilise existing fleet as required for the project.
Macmahon is a diversified contractor providing services across surface and underground mining, civil construction and resources engineering.
The company’s mining services cover mine development and materials delivery, engineering, civil construction, on-site mining services, rehabilitation and site remediation.
Macmahon works for major resource companies across various commodity sectors in Australia and Southeast Asia.
For the 2024 financial year, Macmahon reported a 6.6% year-over-year increase in revenue, which came in at $2 billion. This drove underlying net profit after tax up nearly 36% over the previous financial year to $91.9 million.
At the end of FY2024, the company had around $4.6 billion in contracted work in hand.
Write to Angela East at Mining.com.au
Images: Macmahon
