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Macmahon begins Phase 2 of Batu Hijau contract

Apr 19, 2018 - Marketline Newswire

Macmahon Holdings announced that it has commenced Phase 2 of the Batu Hijau contact ("Mining Contract") in Indonesia.

Macmahon has been operating under a cost-plus arrangement (Phase 1) since the start of the contract last year. The progression to Phase 2 marks the commencement of the gain share / pain share mechanism in the Mining Contract, whereby any cost savings or overruns will be shared between the parties.Macmahon CEO, Michael Finnegan said he was very pleased with the operational p...