JavaScript disabled. Please enable JavaScript to use My News, My Clippings, My Comments and user settings.

If you have trouble accessing our login form below, you can go to our login page.

If you have trouble accessing our login form below, you can go to our login page.

Macmahon shares jump after contract news

Date

SHARES in Macmahon Holdings received a much-needed boost on news it had won its biggest mining services contract with Fortescue Metals Group.

Macmahon sealed a $1.8 billion contract to supply services Fortescue needs to expand its Christmas Creek iron ore mine in Western Australia's Pilbara region.

The deal cements Macmahon's plan to concentrate on mining contract services after it agreed a $20 million deal to sell its construction arm to Leighton Holdings last month.

Shares in Macmahon soared by 16 per cent early on and finished Tuesday up 1.5¢, or 5.9 per cent, at 27¢.

The contract miner has hired 600 workers for the project.

AAP

Featured advertisers

Special offers

Credit card, savings and loan rates by Mozo

Executive Style