Macmahon Holdings wins $406M mining contract in New Zealand

Macmahon Holdings, through its subsidiary Macmahon New Zealand, has secured an underground mining services contract valued at approximately $406.2 million at the Snowy River gold mine project near Reefton on New Zealand’s South Island.

The five-year contract is scheduled to commence in October 2026. It will cover mine development, production, and backfill operations. The Snowy River project is currently operated by Tasman Mining, a subsidiary of Endura Mining, and is expected to reach its first gold production in December 2026.

The underground deposit is projected to produce between 50,000 and 60,000 ounces of gold annually over a mine life exceeding 10 years. Macmahon CEO Michael Finnegan stated that the contract marks the company’s return to mining in New Zealand and highlights its underground mining capabilities.