ASX-listed mining contractor Macmahon Holdings has picked up a A$485 million extension of its long-term contract at the Telfer gold mine in Western Australia.
Acquired by Greatland Resources at the end of 2024, Telfer has produced more than 15 million ounces of gold since 1977. It produced 328,987oz of gold and 14,594 tonnes of copper at an all-in sustaining cost of A$2179/oz for Greatland in FY2026. It also got 70% of nearby Havieron, a significant standalone asset, in its US$475 million acquisition from Newmont.
Greatland CEO Shaun Day said at the recent Diggers & Dealers forum in Kalgoorlie, WA, the company paid back the acquisition cost after five months of production at elevated gold and copper prices. It also amassed $1.3 billion of cash in the bank to accelerate Havieron’s build and advance large-scale exploration around Telfer.
Macmahon said it had delivered mining services at Telfer since 2015. Its latest 42-month extension represented “a significant expansion of mining operations within West Dome Stage 7, including increased mining volumes and the delivery of full mining services”.
Macmahon CEO Michael Finnegan said the contract was an “important milestone in our partnership with Greatland and reinforces the strategic importance of Telfer to our business”.
