Macmahon Moves Into “Cash Flow Positive” Territory On Newcrest Telfer Contract



Macmahon Holdings says it has come to an agreement with Newcrest Mining over the increased rates for its work at the Telfer gold-copper mine, in Western Australia, with the settlement leading to the contract becoming “cash flow positive” over its remaining term.

In June, Macmahon said it had commenced facilitated negotiations with Newcrest regarding pricing for changes to the mine plan and contract program at Telfer following a disagreement between the two parties.

Macmahon first commenced the Telfer life of mine contract in February 2016 and, “despite previously disclosed risks and difficulties associated with the project, achieved an operational turnaround in 2018”