Latest Mining Services Sector News

Mineral Resources Limited’s majority-owned Resource Development Group has entered voluntary administration, prompting MinRes to prepare for a significant non-cash impairment in its FY25 results. The unfolding administration process raises questions about the future of RDG and its impact on MinRes shareholders.

MLG Oz Limited has locked in a new two-year contract with Fortescue subsidiaries to provide crushing and screening services at multiple Western Australian mine sites, reinforcing its foothold in the mining services sector.

Macmahon Holdings has locked in a new $550 million syndicated debt facility, extending maturity to 2029 with improved terms and robust bank backing. This refinancing positions the company for strategic growth while maintaining a conservative liquidity stance.

SSH Group has raised $2.75 million in a placement anchored by mining sector heavyweight Ross Stewart Norgard, aiming to accelerate its mining services expansion in Western Australia.

GR Engineering has won a $79 million contract variation to advance the King of the Hills processing plant upgrade, pushing total project value to $155 million and increasing throughput capacity significantly.

Perenti’s African Underground Mining Services has locked in a five-year, A$1 billion contract to provide underground mining services at Ghana’s Obuasi Gold Mine, reinforcing its strategic partnership with AngloGold Ashanti.

Perenti’s underground mining arm, Barminco, has locked in a $500 million contract extension at the Agnew Gold Mine, reinforcing a decade-long partnership with Gold Fields and promising steady earnings.

SSH Group has signed a binding agreement to acquire Total Contract Mining, enhancing its mining services capabilities and appointing key industry leaders to drive growth.

MLG Oz Limited reported a robust 20.5% increase in revenue for the first half of FY2025, reaching $272.9 million, even as net profit after tax declined to $4.1 million. The company anticipates stronger growth in the second half, supported by new contracts and fleet expansion.

MLG Oz Limited has delivered a robust half-year performance with a 20.3% increase in statutory revenue and stable workforce numbers, setting the stage for anticipated growth in the second half of FY2025.

Australian Food Super (AFS) has initiated a compulsory buy-out of the last remaining convertible securities in Dynamic Group Holdings Limited (DDB) following its near-total takeover. The buy-out offer aligns with an independent expert valuation, signaling the final phase of AFS's consolidation.

Macro Metals Limited accelerates its transformation into a diversified mining services company through a $4 million strategic placement, a majority Indigenous-owned joint venture, and key asset acquisitions in Western Australia.