Australia's Macro Metals rises to over 4-month high as unit-owned contractor wins BHP deal

BHP

04/06/2026 04:14

** Shares of Macro Metals M4M.AX rise as much as 66.7% to A$0.01, their highest point since January 28
** Stock logs its largest intraday pct jump since early December 2024
** The mineral explorer and mining services provider says Nyapiri Macro Mining Pty wins work package instruction from BHP BHP.AX Iron Ore Pty
** Nyapiri Macro is a majority Indigenous-owned contractor alongside co's Macro Mining Services as owner
** Contract valued at A$12.52 million ($8.92 million) includes site establishment, civil earthworks among others at BHP's Mt Goldsworthy site between June 2026 and May 2027
** Around 50.2 million shares change hands, 17.6 times the 30-day average
** Stock flat YTD, including the day's moves

($1 = 1.4033 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))