Macmahon Wins $190m Wonawinta Mining Deal With Manuka Resources

An update from Macmahon Holdings Limited ( (AU:MAH) ) is now available.

Macmahon Holdings has entered a Letter of Intent with Manuka Resources to restart mining at the Wonawinta silver project in New South Wales’ Cobar Basin. The agreement covers open pit services including drill-and-blast and load-and-haul, reflecting Macmahon’s strategy of leveraging its surface mining expertise across key Australian resource regions.

A five-year Mining Services Agreement worth about $190 million is expected to be finalised in April 2026, with mining to recommence in May 2026. The contract requires no additional capital beyond Macmahon’s existing FY26 budget and leaves its FY26 guidance unchanged, signalling operational and financial stability while deepening its presence in large-scale silver developments.

Macmahon’s management framed the partnership as a way to de-risk Wonawinta’s restart by applying its experienced surface mining team. The deal is intended to provide Manuka with operational flexibility and scalability, underscoring Macmahon’s role as a contractor of choice for complex resource projects and reinforcing its long-term positioning in the mining services market.

The most recent analyst rating on (AU:MAH) stock is a Hold with a A$0.81 price target. To see the full list of analyst forecasts on Macmahon Holdings Limited stock, see the AU:MAH Stock Forecast page.

More about Macmahon Holdings Limited

Macmahon Holdings Limited is an ASX-listed mining and civil infrastructure contractor operating across Australia and Southeast Asia. The company provides end-to-end services in surface and underground mining as well as civil infrastructure, supporting resources, non-resources, public infrastructure and renewables projects for a broad range of clients.

Average Trading Volume: 7,625,393

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$1.39B

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