Macmahon pens equipment hire deal with St Ives Gold Mining Company

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Mining services company Macmahon Holdings has announced that it has finalised the agreement with St Ives Gold Mining Company to provide a hire fleet of large scale open cut mining equipment and associated services at the company’s mine near Kambalda in Western Australia.

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Macmahon said that the hire services are scheduled to commence later this month with an initial term of 6 months. Under the terms of the agreement, Gold Fields – the parent company of St Ives – has an option to extend for a further 18 months.

Macmahon Chief Executive Officer Sy van Dyk said the fleet had been sourced from the company’s idle equipment inventory and will be used to deliver additional capacity to the St Ives Gold Mine.

“This work will help us increase our footprint in the eastern goldfields region of Western Australia, and importantly, enable us to utilise some of our idle equipment in the immediate future,” Mr van Dyk said, adding that revenue is expected to be in the order of $2 million per month.

“We look forward to working with Gold Fields and the team as St Ives and assisting them with the execution of their 2016 business plan.”