NCM newcrest mining limited
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News: NCM Macmahon Holdings has terminated its contract at Calabar In Nigeria

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    12/10/16
    08:36
    Post #: 19789982

    Oct 12 (Reuters) - Macmahon Holdings Ltd (MAH) -

    • Macmahon has terminated its contract at Calabar In Nigeria
    • Operations at Calabar will now cease on 28 october 2016 with demobilisation scheduled to commence immediately thereafter
    • Project closure costs are still to be determined but costs are expected to be borne in 1H17
    • Remains in discussions with its client, newcrest mining limited, regarding options to mitigate these issues
    • Operational performance at Telfer is also expected to be to plan by end of FY, however will negatively impact FY17 results
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