Australia's Macmahon soars on $767 mln contract win for lithium project

Macmahon Holdings

16/01/2023 24:25

** Shares of Australia's Macmahon Holdings  MAH.AX  rise as
much as 7.4% to A$0.145, set to gain their most since Jan. 9
    ** The mining services provider finalises A$1.1 billion 
($766.81 million) load and haul services contract for the
Greenbushes lithium project in Western Australia
    ** Says contract is with Talison Lithium Australia Pty and
will commence on July 1 for a 7-year period with an option to
extend for up to 2 years
    ** Adds contract estimated to generate revenue in excess of
A$1.1 billion over its initial 7-year term
    ** Stock fell 21.6% in 2022
($1 = 1.4345 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))