MLG Secures $80 Million in New Contracts
| Stock | MLG OZ Ltd (MLG.ASX) |
|---|---|
| Release Time | 17 Dec 2024, 8:19 a.m. |
| Price Sensitive | Yes |
MLG Secures $80 Million in New Contracts
- $16 million contract with Evolution Mining to construct 26km haul road
- 3-year $22 million per year contract extension with Norton Gold Fields
- Broadens MLG's integrated services across key clients in Western Australian Goldfields
MLG Oz Limited (ASX: MLG) has announced that it has been awarded a civil project by Evolution Mining Limited (ASX: EVN) to construct a 26km all-weather bitumen sealed haul road between the Castle Hill mining centre and the Mungari mill. This award follows a recent five-year contract extension for the supply of integrated mining services to Mungari Gold Operations. The infrastructure will enable uninterrupted road train haulage from satellite Run of Mine (ROM) pads to the main ROM pad near the MGO processing plant and will be important to supporting Evolution's expansion project 'Mungari 4.2', as well as to facilitate the mining ramp-up at Castle Hill. MLG has also extended its relationship with Paddington Gold Pty Limited, a wholly owned subsidiary of Norton Gold Fields Pty Limited, through the signing of a new three-year contract. Since 2021, MLG has been providing its integrated haulage and site services at Norton's Paddington Mill, with the new contract continuing that relationship to at least 2027. The combined value of the Evolution and Norton contracts exceeds $80 million in revenue for MLG and broadens MLG's provision of integrated services across two of its key clients in the Western Australian Goldfields.
The combined value of the Evolution and Norton contracts exceeds $80 million in revenue for MLG over the respective contract terms.
The new contracts further strengthen MLG's position in the Western Australian Goldfields and expand the company's provision of integrated services to key clients in the region.