Mondelphous books contracts worth $150m

Monadelphous Group has secured a series of new construction and maintenance-based contracts worth around $150 million.

Thursday’s market update follows contract bookings valued at $230 million and $160 million in second half of last calendar year. 

Zoran Bebic-led Monadelphous, which has a market cap of $1.4 billion, said it had been awarded a multi-disciplinary contract at Rio Tinto’s Brockman 4 mine, located in the Pilbara.

The contract is part of its existing capital projects panel agreement, regarding a replacement ammonium nitrate facility at the project. 

Monadelphous said it expects the work to be finished by mid-2026.

Additionally, it will provide water management work across Rio’s Pilbara-based mining operations, courtesy of a three-year panel contract.

Earlier this week, it was announced Monadelphous would be fined more than $700,000 due to a workplace death at its Kalgoorlie facility back in 2020.  

Monadelphous closed trade on Thursday down 1 per cent to $14.06.