Australia's Monadelphous rises on securing new contracts

Monadelphous

16/06/2023 03:40

** Shares of engineering services provider Monadelphous
Group  MND.AX  climb as much as 1.9% to A$12.18, their best day
since June 9 if current gains hold
    ** Co says it has secured two contracts with Rio Tinto
 RIO.AX  to undertake upgrades to its conveyor gravity take up
systems at Tom Price and Cape Lambert Port A in the Pilbara
region of Western Australia
    ** Says new contracts are part of a new suite of work
unveiled by co totalling some A$120 mln ($82.51 mln)
    ** Co says it was also successful in securing a further
three-year framework deal for BHP's Western Australian Iron Ore
Asset Projects providing multidisciplinary works
    ** Says it secured a three-year contract with BHP Mitsubishi
Alliance, to continue providing shutdown & maintenance services
on BMA's ops in the Bowen Basin
    ** Says co also awarded a 12-month contract extension for
supply of major shutdown & mechanical services at South32's
Worsley Alumina operations in WA
    ** Stock down 10.6% YTD as of last close 
    



($1 = 1.4543 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))