Mongolian contract just the beginning - Macmahon

WEST-Perth based Macmahon Holdings boss Nick Bowen says the company’s latest $491 million contract in Mongolia is an “enormous opportunity”.
In a statement to shareholders, the company announced it would team up with German Operta GmBh to work on the state-owned Tavan Tolgoi Coal Mine in Mongolia.
Mr Bowen said the new contract put the mining and construction company at the forefront of the “world’s largest emerging mining regions”.
The project involves large scale open cut mining operations and mining at a rate of 3 million tonnes a year is expected to commence in January next year.
“Our operations in Mongolia pave the way for developing a long term business in the region and will see our world class mining expertise on show through this project,” he said.
Once all the mine and transport infrastructure is in place, the mine is expected to produce 15 million tonnes a year.
The company’s share fell 0.79 per cent, to 62.5 cents at 1043 AWST today, after coming out of a trading halt yesterday.


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