MACA Ltd advises that Capricorn Metals Ltd has issued MACA Mining a letter of intent to award the Open Pit Mining Services Contract, at the Karlawinda Gold Project in Western Australia. The project is located 65 km southeast of Newman in the Pilbara region, Western Australia. The project will consist of open pit mining services including drilling & blasting and loading & hauling. It is expected to generate approximately A$410 million in revenue for MACA over the initial five year term.

The contract provides an option to extend the term at Capricorn’s election. The project will involve movement of approximately 11 Mbcm of ore and waste per year utilising a fleet of 180 t dump trucks. Ancillary works are expected to commence in December 2020 with mining activities following shortly after. MACA’s total Work in Hand position now stands at $2.7 billion, up from the recently stated A$2.3 billion. MACA CEO Mike Sutton said “MACA has a long-standing working relationship with the Management Teamof Capricorn and look forward to partnering with Capricorn to successfully deliver the Karlawinda Gold Project. This Mining Contract adds further to MACA’s strong Work in Hand position in the gold sector.”