Engineering company Monadelphous (ASX:MND) has secured new contracts and contract extensions totalling about $150 million.
The $1.26 billion market capitalisation company has been awarded a contract with Fortescue Metals Group (ASX:FMG) to supply and construct an overland conveyor and transfer station at the Christmas Creek mine site in the Pilbara region of Western Australia.
The scope of work, which includes civil, structural, mechanical, piping, electrical and instrumentation works, commences immediately and is expected to be completed in the first half of 2024.
Additionally, Perth-based Monadelphous has secured a 2-year extension to its existing maintenance services contract at BHP’s (ASX:BHP) Olympic Dam operations in South Australia.
The scope of work includes mechanical and electrical maintenance, shutdown, and project services.
The company has also been awarded a 2-year extension to its existing contract with Rio Tinto (ASX:RIO) to continue providing mechanical, electrical, and access maintenance services for fixed plant shutdowns at its Gove operations in the Northern Territory.
However, today (24 July 2023) the company’s share price was down 5% to $12.46 as of 3.30pm AEST.
With more than 50 years of experience, Monadelphous is an Australian engineering group providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. It has 2 operating divisions − Engineering Construction, providing large-scale multidisciplinary project management and construction services, and Maintenance and Industrial Services, specialising in the planning, management and execution of mechanical and electrical maintenance services, shutdowns, fixed plant maintenance services and sustaining capital works.
Monadelphous is headquartered in Perth, Western Australia, with a major office in Brisbane, Queensland, and offices, projects, facilities, and workshops across Australia and in China, Mongolia, Papua New Guinea and the Philippines.
Write to Adam Orlando at Mining.com.au
Images: Rio Tinto Ltd & FMG Ltd
