Latest Mining Services Sector News

Babylon Pump & Power reported a $5.2 million EBITDA loss in FY26 amid legacy maintenance struggles but saw its rental segment revenue surge 160%. The company exited maintenance post-year end and raised $7.27 million to strengthen its balance sheet and fund rental growth.

Macmahon Holdings has locked in a $485 million, 42-month contract extension at the Telfer Gold Mine, expanding its mining services footprint in Western Australia and reinforcing a decade-long partnership with Greatland Resources.

MLG Oz Limited has locked in a five-year extension with Newmont’s Tanami Operations, promising $200 million in revenue and reinforcing its role as a key integrated mining services provider.

GR Engineering Services Limited has been awarded a $68 million EPC contract by Northparkes Mining Services, a subsidiary of Evolution Mining, to upgrade the Northparkes Coarse Particle Flotation Project in New South Wales, aiming to improve copper recovery and energy efficiency.

Aquirian Limited has reported a strong rebound to profitability in the half year ending December 2025, driven by robust revenue growth and strategic partnerships that position it for expansion in mining services.

GR Engineering Services has been named preferred contractor for Brightstar Resources’ Laverton Processing Plant, a major 1.5 Mtpa gold facility in Western Australia, pending final investment and funding decisions.

Babylon Pump & Power has reported a robust December quarter, driven by strong rental segment performance and a significant new contract with Newmont. Despite challenges in its maintenance division, the company is positioned for growth with fresh leadership and strategic asset management.

Mitchell Services Limited has reported a remarkable first half of FY26, posting a 71% increase in quarterly EBITDA and achieving a net cash position of $7.2 million. The company’s strong operating cashflows and improved market conditions underpin its optimistic outlook.

Aquirian Limited reports a robust first half of FY26 with revenue up 27.4% and EBITDA more than doubling, driven by strategic facility upgrades and promising joint ventures.

Babylon Pump & Power has secured a three-year contract with gold giant Newmont, promising steady revenue and reinforcing its position in the mining services sector.

Tasman Resources has increased its investment in Eden Innovations through a $250,000 conditional share placement, raising its ownership to 13.95% and securing additional options. This move replaces further financial support and positions Tasman shareholders to benefit from Eden’s growth potential.

Develop Global Limited has landed a significant A$200 million contract to build underground access tunnels at OceanaGold’s Waihi North Project in New Zealand, marking a major milestone for its mining services division.