Macmahon to provide open-cut mining equipment at Gold Fields’ St Ives mine in Australia

18 November 2015 (Last Updated November 18th, 2015 18:30)

Macmahon has been selected to provide a hire fleet of large-scale open-cut mining equipment and associated services at Gold Fields' Australian subsidiary's St Ives Gold Mine.

Macmahon has been selected to provide a hire fleet of large-scale open-cut mining equipment and associated services at Gold Fields' Australian subsidiary's St Ives Gold Mine.

Sourced from Macmahon's idle equipment inventory, the fleet will be used to deliver additional capacity to the St Ives Gold Mine, located 20km south-east of Kambalda in Western Australia.

Macmahon CEO Sy van Dyk said: "This work will help us to 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.

"This would bring the total redundancies to around 2,000 during the past 18 months."

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

According to Macmahon, the hire services are slated to begin before the end of this month.

The services have an initial term of six months, with Gold Fields able to extend it for another 18 months.

Revenue from the services is expected to be around $2m per month.

South African mining company Gold Fields acquired the St Ives Gold Mine from WMC in late-2001. It is one of two mines operated by the company in Australia, with the other being the Agnew Gold Mine.

At St Ives, ore is mined in three underground operations, with four open-pit.

Macmahon recently secured a $170m contract to provide mining services at PT Agincourt Resources' Martabe gold mine in Indonesia's North Sumatran province.