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Monadelphous Group Limited ( (AU:MND) ) has provided an update.
Monadelphous Group Limited has received a Notice of Award from Rio Tinto for a major multidisciplinary construction contract associated with the Brockman Syncline 1 iron ore development at the Brockman Mine Hub in Western Australia’s Pilbara region. The approximately $250 million contract covers fabrication and supply, detailed earthworks and concrete, structural, mechanical, piping, electrical and instrumentation works for a new primary crusher and overland conveyor, as well as modifications to existing plant, with work starting immediately and scheduled for completion in 2027. Management said the award underscores Monadelphous’ strong, long-standing relationship with Rio Tinto and reinforces the company’s credentials in safely delivering large-scale, complex resources projects, strengthening its position in the iron ore construction market and providing a significant medium-term workload pipeline.
The most recent analyst rating on (AU:MND) stock is a Buy with a A$28.75 price target. To see the full list of analyst forecasts on Monadelphous Group Limited stock, see the AU:MND Stock Forecast page.
More about Monadelphous Group Limited
Monadelphous Group Limited is a leading Australian engineering group with more than 50 years’ experience providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. Through its Engineering Construction and Maintenance and Industrial Services divisions, the Perth-headquartered company delivers large-scale multidisciplinary project management, mechanical and electrical maintenance, shutdowns, fixed plant maintenance and sustaining capital works across Australia and in several international locations, including China, Mongolia, Papua New Guinea, Vietnam and the Philippines.
YTD Price Performance: 96.21%
Average Trading Volume: 234,613
Technical Sentiment Signal: Buy
Current Market Cap: A$2.64B
For an in-depth examination of MND stock, go to TipRanks’ Overview page.