Latest Mining Services Sector News

Macmahon Holdings Limited has reported a strong financial year with a 19.5% revenue increase and a near 39% jump in profit after tax, underpinning higher dividends for shareholders.

Babylon Pump & Power has completed two key acquisitions, expanding its water services platform and enhancing earnings with minimal integration risk. These moves position the company for sustained growth in the mining services sector.

Perenti Limited’s underground mining subsidiary Barminco has been hit with a $46 million legal claim from MMG Dugald River Pty Ltd related to a completed contract at the Dugald River Mine. Barminco denies liability and plans to vigorously defend the case while pursuing a counterclaim.

Resource Development Group, majority-owned by Mineral Resources, has entered voluntary administration after a funding request was declined. Mineral Resources plans to support the process but will record a significant impairment in FY25.

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.