Australia's Monadelphous hits record high on $200 million Rio Tinto contract

Monadelphous

13/01/2026 23:37

** Shares of Australia's Monadelphous Group MND.AX rise as much as 4% to a record high of A$29.71

** The engineering services co says it has been awarded maintenance services contract with Rio Tinto RIO.AX for A$300 million ($200.55 million)

** Co says under contract, to provide fixed plant and shutdown services, among others, across RIO's iron ore operations in Pilbara region, Western Australia

** RIO stock up 1.6% at A$147.84 earlier in th session

** MND stock has gained 89.4% in 2025

($1 = 1.4959 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))