Monadelphous Group Wins AU$160 Million in New Contracts, Extensions

MT Newswires Live
2024-10-16

Monadelphous Group (ASX:MND) secured new contracts and extensions in Western Australia totaling around AU$160 million, according to a Wednesday filing with the Australian Securities Exchange.

The engineering firm received two one-year contract extensions for services at Rio Tinto's (ASX:RIO) iron ore operations, another contract at the miner's Tom Price mine, and a three-year contract at South32's (ASX:S32) Worsley Alumina operations, the filing said.

In addition, the company's fabrication business, Inteforge, won a contract for structural steelwork and pipe racks for Iluka's (ASX:ILU) Eneabba rare earths refinery project, according to the filing.

Monadelphous and Rio Tinto shares each fell past 2% in morning trade on Wednesday. South32's shares were down 1%, and Iluka Resources' shares tumbled 4%.

Price (AUD): $12.93, Change: $-0.28, Percent Change: -2.12%

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