MACA Ltd says it has finalised the hire and maintenance contract for CITIC Pacific Mining Management at the Cape Preston Sino Iron magnetite project, 100 km southwest of Karratha in the Pilbara region of Western Australia.
The contract is expected to generate A$200 million ($152 million) in revenue for MACA over a 36-month term commencing in April. MACA’s work-in-hand position as of February 2021 is A$3.4 billion, the company said.
MACA CEO, Mike Sutton, said: “MACA is very pleased to continue working with CITIC Pacific Mining at the Sino Iron magnetite project, and we value the long-standing relationships we have with our clients at this pioneering mega project.
The current CPM contract was novated from Downer to MACA, following the acquisition of the Mining West business, and it’s pleasing to have now secured this three-year extension.”
In February, MACA completed the acquisition of Downer’s Mining West business, bringing with it four contracts at long-life mining assets in Western Australia, including the Cape Preston agreement.