Macmahon snares $72m contract extension

Macmahon has signed a $72 million contract extension at Newmont Mining's open cut gold mine in New Zealand.

Macmahon chief executive officer, Nick Bowen, said the win highlighted the Company's strength in delivering long term solutions to its clients.

See full statement below:

Macmahon Holdings Limited (ASX:MAH) announced today that it had been awarded a four year contract extension at Newmont Mining's open cut gold mine in New Zealand.

The mine is located near the township of Waihi and the renewal will see Macmahon remain on site until 2015.

The extension is valued at AUD$72 million with Macmahon continuing to undertake full open cut mining activities, including drill and blast, load and haul and crushing works.

Macmahon Chief Executive Officer, Nick Bowen, said the win highlighted the Company's strength in delivering long term solutions to its clients.

"Macmahon has been operating on site at Waihi since 1998 and are very pleased to be able to extend our long term partnership with Newmont Mining," he said.

"This latest win follows the recent extension of a number of our key mining contracts in Australia and overseas."