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MACA bags AUD 700 million Bluff Coal contract from Wealth Mining

Coal News - Published on Mon, 03 Sep 2018

Image Source: thewest.com.au
The West Australian reported that mining contractor MACA has won a Queensland coal mining contract worth AUD 700 million over a decade. MACA said the life-of-mine contract with Chinese-owned Carabella Resources covered all open pit mining activities at the Bluff Coal project in the Bowen Basin. Contract works begin in the December quarter and first coal is expected in early 2019. About 140 jobs are involved. The contract takes MACA’s work in hand to AUD 1.98 billion. Its financial 2019 revenue guidance of AUD 620 million remained unchanged. MACA said it would finance the drop cut to first coal via a AUD 25 million working capital facility. Equipment will be acquired or hired for about AUD 45 million. The company said that “The project will broaden MACA’s commodity exposure and geographical footprint.”

Carabella is owned by China Kingho Group, China’s biggest private coal miner. Bluff is expected to produce about 12 million tonnes of pulverised coal injection (PCI) product, used as a raw material in steel making.

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Posted By : Rabi Wangkhem on Mon, 03 Sep 2018
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