Anglo American contracts extended & Operational update
| Stock | Metarock Group Ltd (MYE.ASX) |
|---|---|
| Release Time | 7 Apr 2025, 8:26 a.m. |
| Price Sensitive | Yes |
Metarock extends Anglo American contracts
- 6-month extension of contracts with Anglo American Steelmaking Coal
- Expected to generate $25-$30 million in revenue
- Separate from existing 5-year contract for fault consolidation products and services
Metarock Group Ltd (ASX:MYE) has announced that it has agreed a 6-month extension of its contracts with Anglo American Steelmaking Coal in relation to the company's specialist contracting services at its underground operations. The extension is expected to generate revenues for Metarock in the range of $25 - $30 million. This contract extension is separate to the current 5-year contract with Anglo American for fault consolidation products and services effective until 30 June 2029, which was previously announced on 30 July 2024. Jeff Whiteman, CEO & Managing Director of Metarock, noted that these contract extensions continue the company's valued long-term relationship with Anglo American SMC in support of their underground mines in Central Queensland, where Metarock has been providing services continuously for greater than 20 years. Metarock also noted that Anglo American has temporarily suspended underground operations at its Moranbah North Mine following an incident on 31 March 2025, with only essential services currently being conducted on site. Further updates will be provided once more information is available.