Macmahon lands $485M Telfer extension, adds to $646M in new work

Macmahon Contractors, a subsidiary of Macmahon Holdings (ASX: MAH), has secured a 42-month extension at the Telfer gold mine in Western Australia valued at $485 million. The contract at the Greatland Resources (ASX: GGP) operated asset extends a relationship that dates to 2015, when Macmahon first began delivering mining services at the site.

The scope of work covers West Dome Stage 7, with increased mining volumes and full services including drill and blast, load and haul, and related operational activities.

Macmahon MD and CEO Michael Finnegan said the extension "represents an important milestone in our partnership with Greatland and reinforces the strategic importance of Telfer to our business."

The Telfer award follows two other contract wins this month that together total roughly $646 million in new work. Medallion Metals (ASX: MM8) selected Macmahon as preferred underground mining contractor for the Ravensthorpe gold project in WA, a deal valued at about $240 million over an initial 36-month term starting in the December quarter 2026. A day earlier, Macmahon New Zealand landed a $406 million underground mining services contract at the Snowy River gold mine project.

The three contracts represent a significant expansion of Macmahon's order book across Australia and New Zealand, all in the gold sector. The company now holds work at four gold mining operations, including the Ravensthorpe portal establishment and development work.

For Greatland Resources, the extension locks in a mining partner at Telfer through at least early 2029. Greatland acquired the mine from Newmont in 2023 and has been working to extend its life beyond the current reserves. The West Dome Stage 7 expansion suggests Greatland is moving ahead with development plans at the asset.

MAH was steady at $1.02 with a market cap of $2.208 billion ahead of the market open.

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