Contractor MACA is forecasting its total revenue this financial year to exceed $300 million, up 20 per cent from last year, after announcing mining operations began at three of its contracted mining projects today.
The Garden Well, Peculiar Knob and Ellendale mines are expected to generate annual revenues of $120 million.
In April MACA signed the $450 million contract with Regis Resources for Garden Well and the $127 million contract with WPG Resources for Peculiar Knob, which has since been bought by OneSteel.
The $65 million Ellendale contract with Kimberley Diamonds was announced last month.
The company said personnel from maturing projects at Jacks Hills and Spotted Quoll will be deployed to the new projects as they ramp up in the new year.
MACA operations director Geoff Baker said the company had been able to mobilise and commence mining operations at Ellendale within just 15 days of contract award.
“We are very excited with the continued growth prospects of the MACA business and look forward to working closely with both longstanding and new clients to assist them in achieving their objectives as we move into 2012,” he said.
MACA offshoot MACA Civil is expected to generate $40 million revenue this financial year on the back of alliance style contracts with Main Roads WA, after making no contribution to earnings last financial year.
MACA shares were up 5 cent to $2.05 at 2.34pm WST.
