Australia's Monadelphous Group gains after unit secures Rio Tinto contract

Rio Tinto

31/07/2026 04:24

** Shares of Australia's Monadelphous Group MND.AX rise as much as 3.5% to A$29.490, eyeing best intraday session since July 23, if trends hold
** Engineering co's unit Kerman Contracting, secures A$165 million ($115.85 million) contract from Australian miner Rio Tinto RIO.AX 
** MND adds, contract is to design and build mine-support infrastructure for Rio's Brockman Syncline 1 project in Pilbara, Western Australia
** Says work will commence in 2026, expected to be completed by 2028
** Co's stock up 9.6% YTD, including sessions' moves


($1 = 1.4243 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((Shravya.Marakini@thomsonreuters.com;))