Macmahon Holdings Limited is pleased to announce that its subsidiary, Macmahon Underground Pty Ltd, has been selected as the preferred mining contractor by the Central Tanami Project Joint Venture (CTPJV) between Tanami Gold NL and MGX Resources Limited for the Groundrush exploration decline project, which is part of the CTPJV in the Tanami region of the Northern Territory of Australia.
The scope of the works includes portal and ventilation establishment works and approximately 3,500 m of exploration decline development. Works are expected to commence in the September 2026 quarter. The contract, once executed, will extend for a 14-month period and is valued at approximately A$38 million ($27 million).
Michael Finnegan, Managing Director and CEO, said: “With the completion of the exploration decline and resource definition drilling we anticipate production mining to commence shortly afterwards, hopefully generating new growth opportunities for our partnership.
“This strategic relationship reflects Macmahon’s focus on increasing our underground business’ footprint throughout Australia and I would like to thank our team for all their efforts.”
In a separate release from MGX, Peter Kerr, CEO of the company, said: “We are pleased to have selected Macmahon, a tier 1 mining contractor, as the preferred supplier of underground mining services for the Groundrush exploration decline. Groundrush forms the
core of the Central Tanami Gold Project and, following the recent settlement of MGX’s acquisition of its interest in the CTPJV, we are working closely with our joint venture partner to accelerate the project towards a formal development decision in this strong gold market.”
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