Macmahon (ASX:MAH) has formalised its engagement for the highly anticipated restart of the Mount Carlton Gold Mine, located approximately 150km south of Townsville in North Queensland.
The mining services giant announced the execution of a letter of intent with Wolfram, a subsidiary of Bumi Resources, marking a milestone for the region’s resources sector.
The scope of work encompasses surface and underground mining services, alongside vital civil infrastructure support, providing what CEO Michael Finnegan describes as a "whole of mine" solution.
The project carries an estimated total value of $250 million over an initial 33-month term.
Macmahon confirmed that the restart requires no additional capital from its FY26 expenditure budget, allowing the company to maintain its current financial guidance.
Early works are already well underway, focusing on the essential repair and maintenance of mine access roads.
Operational momentum is expected to accelerate quickly; the restart of surface mining is slated for April, with underground operations following shortly thereafter.
Finnegan highlighted the strategic importance of the contract, noting that it allows the company to demonstrate the seamless integration of its diverse service offerings.