Mining services company Macmahon has seen its shares reach a 13-year high after securing a major coal contract extension in Queensland and winning wind farm work in Western Australia.
The company announced on Wednesday that long-term client Byerwen awarded it a new three-year contract for open cut services at a coking coal mine in the Bowen Basin. The contract includes load and haul, and crusher feed operations.
The Queensland coal contract is valued at $792 million, contributing to a total of $843 million in new work announced by Macmahon.
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In addition to the coal contract, Macmahon also secured wind farm work in Western Australia, further diversifying its project portfolio.
