Developer Decmil Group gained ground on Thursday after winning a $75 million contract with resources goliath BHP to expand a mining accomodation village in Western Australia.
The contract covers the first phase of a $105 million project to upgrade and expand Mulla Mulla village.
The expansion will support BHP Billiton Iron Ore’s operations at Mining Area C and the future proposed South Flank project.
Works are expected to begin immediately.
The stock (ASX:DCG) closed 5 per cent higher at $1.30, capitalising the company at roughly $225 million.
Source: Investing.com
Decmil currently has project teams at several major WA iron ore projects. This contract adds to Decmil’s almost 40 years of experience as a contractor to the sector and a long relationship with BHP’s Iron Ore division.