Genesis Minerals has named MLG Oz Limited to supply mining services in a contract anticipated to generate about $45 million in revenue over three years.
Genesis Minerals has named MLG Oz Limited to supply mining services in a contract anticipated to generate revenue of $45 million over three years.
Kalgoorlie-based MLG is expected to help support Genesis Minerals’ strategic growth plans in the Leonora gold district by providing integrated site services and haulage activities as part of the contract.
The works are set to commence in November with a production ramp up expected throughout 2024.
The full-year revenue for FY2025 is anticipated to be about $15 million before growing to $30 million in FY2026, according to MLG Oz’s announcement to the ASX.
MLG Oz managing director Murray Leahy said the company was excited to partner with Genesis Minerals to support its strategic objectives in the Leonora region.
“MLG’s regional position across the Leonora mineral field and strength of our underlying operations across this region ensures we are well placed to grow with Genesis and help them to execute on their long-term strategy,” he said.
“We are delighted to be welcoming Genesis as a new strategically important customer through the award of this contract allowing MLG to play a major role in the enhancement and growth of mineral production in the Leonora region.
“MLG’s large regional presence and scale of support infrastructure located within the region that is currently delivering for our high-quality customer base positions us extremely well to capitalise on these opportunities.”
MLG Oz also secured $51 million worth of work from contracts over projects with Ora Banda Mining, Gold Fields Australia and Bellevue Gold in July.
On the ASX, MLG Oz shares last traded yesterday at a closing price of 53 cents per share.
Genesis Minerals shares last traded at $1.36 per share, a 2.2 per cent decrease from its last closing price of $1.39 per share.
