PT Amman Mineral Nusa Tenggara

Macmahon shareholders approved a transaction with PT Amman Mineral Nusa Tenggara (AMNT) that will award Macmahon a life-of-mine alliance contract for earthmoving and mining services at the Batu Hijau copper-gold mine in Indonesia. Macmahon will acquire existing mobile mining equipment from AMNT and issue new shares to an AMNT subsidiary.

Macmahon Holdings signed binding documentation for a potentially transformational transaction with PT Amman Mineral Nusa Tenggara (AMNT). Macmahon will be the life-of-mine mining services contractor for AMNT's Batu Hijau copper-gold mine in Indonesia, expecting to generate revenue of US$2.9 billion over the life of the operation, and will acquire mobile mining equipment valued at US$145.6 million.

Macmahon Holdings will acquire equipment with an estimated value of about $150 million from PT Amman Mineral Nusa Tenggara, issuing new shares equal to 40-50.1% of its expanded share base.

Macmahon Holdings has signed a non-binding heads of agreement to acquire equipment valued at about $150 million from PT Amman Mineral Nusa Tenggara and be awarded a life-of-mine contract for earthmoving and mining services at the Batu Hijau copper-gold mine in Indonesia, with an order book of about $2.7 billion.