Macmahon prepping for Mount Carlton Gold Mine restart as part of Wolfram LoI
Macmahon Holdings Limited has announced the execution of a Letter of Intent (LoI) with Wolfram Limited, a wholly-owned subsidiary of Bumi Resources, for the restart of operations at the Mount Carlton Gold Mine, in north Queensland, Australia.
Macmahon’s offering of surface and underground mining services, as well as civil infrastructure services, form the basis of the scope of the LoI for Mount Carlton. The parties are in negotiations on the terms of a contract, which is anticipated to have an initial term of 33 months. The execution of the contract, and its main terms, will be announced when finalised.
Early works, including the repair and maintenance of the mine access road, have already commenced under the terms of the LoI. The restart of the surface mine is expected to commence in April 2026, with underground mining to follow shortly thereafter.
The total value of works, once the contract is executed, is approximately A$250 million ($174 million). No additional capital is required from Macmahon’s FY26 capital expenditure budget.
Michael Finnegan, Managing Director and CEO, said: “We are delighted to be working closely with Wolfram Limited and Bumi Resources on the restart of the Mount Carlton Gold Mine. We welcome this strategically important opportunity to demonstrate how effectively Macmahon’s businesses, surface and underground mining, and civil infrastructure, combine to deliver a comprehensive and seamless ‘whole of mine’ solution to our valued client.”
Wolfram says Mount Carlton has an existing mineral resource estimate of 10.5 Mt at 1.39 g/t gold-equivalent for 470,000 oz of gold-equivalent.
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