Australian mining group Macmahon Holdings has won a bid to develop the Poboya gold project on the Indonesian island of Sulawesi.
Macmahon will carry out open pit mining operations, including drilling, loading, hauling, equipment maintenance and development of the mining site. The company will also work with the customer, PT Citra Palu Minerals (CPM), to explore options for the future development of its mines.
The contract, which has already commenced, is expected to complete in September 2026. It will add approximately $54 million to Macmahon’s order book, with minimal capital expenditure expected during this period.
“Indonesia presents a great landscape for us to grow, given our existing relationships and strategy to work with preferred partners that have world-class projects,” said CEO and managing director Michael Finnegan.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
