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6 stories mentioning ASX:MNDUpdated 29d ago

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Asia

Monadelphous Group Secures Over AU$200 Million of Construction, Maintenance Contracts

Monadelphous Group (ASX:MND) secured more than AU$200 million of new construction and maintenance contracts, according to a Wednesday filing with the Australian bourse.The company won two awards from Fortescue (ASX:FMG), including one for the installation of wind turbine generators for a project in Western Australia, and another three-year contract for continued maintenance services across Pilbara operations in Western Australia, per the filing.Monadelphous also received two awards from Santos (ASX:STO), including an extendable three-year contract for multidisciplinary services for upstream field development and production operations, and another for the construction of temporary camp facilities at a project in Papua New Guinea where work is expected to complete by the end of this year.Lastly, Monadelphous obtained a three-year contract for continued operation and maintenance services at Synergy's Muja Power Station in Western Australia.

ASX:FMGASX:MNDASX:STO
Asia

Mining Services Sector Too Strong for Transitory, Manageable Issues, Says Jefferies

Mining services sector's issues like diesel pressures or labor shortage are temporary or manageable, as the oil shock will ease after the Middle East peace deal and the industry has previously managed labor shortages, according to a Saturday Jefferies note.The mining capital expenditure and exploration cycle is too strong to ignore or underweight, which should last at least 3 years and probably beyond, Jefferies said, as it believes that upgrades will easily outweigh downgrades during this time, and sector earnings growth will easily surpass the ASX 300.Jefferies upgraded ALS (ASX:ALQ) and Imdex (ASX:IMD) to a buy and increased their price targets to AU$26 from AU$24.40 and AU$5 from AU$4.80, respectively.Jefferies also upgraded Perenti (ASX:PRN) to a buy and lifted its price target to AU$2.45 from AU$2.35.The investment firm downgraded MAAS Group (ASX:MGH) to hold with a price target of AU$5.50, while keeping the same rating on NRW (ASX:NWH) with a price target of AU$6.40, up from AU$6.20.Jefferies kept an underperform rating on Monadelphous Group (ASX:MND) and increased its price target to AU$24 from AU$23.ALS rose past 4%, Imdex jumped over 5%, Perenti surged almost 7%, NRW Holdings was up 4%, and Monadelphous climbed nearly 5% in recent Monday trade. MAAS Group fell roughly 3%.

ASX:ALQASX:IMDASX:MGHASX:MNDASX:NWHASX:PRN
Asia

Monadelphous Group Secures AU$380 Million CS Energy Contract for Queensland Project

Monadelphous Group (ASX:MND) secured a major engineering and construction contract valued at around AU$380 million from CS Energy to deliver works on the Brigalow Peaking Power Plant near Chinchilla in Queensland, according to a Friday filing with the Australian bourse.The scope covers balance-of-plant construction and installation of 12 aeroderivative gas turbine generator units totaling 400 megawatts, plus engineering and design of minor packages, per the filing.Work is set to begin in the second half of the year and is expected to be completed by early 2029, the filing said.The facility will provide peak power for over 150,000 homes, strengthen grid reliability alongside renewables, and support up to 300 construction jobs while supporting local employment and supply chains, the filing added.

ASX:MND
Asia

ASX Preview: Australian Shares Set to Rise as Oil Eases on Middle East Volatility; Bendigo and Adelaide Bank Posts Higher Total Capital for March Quarter

Australian shares are poised to rise on Friday as oil prices settled lower after a volatile session driven by shifting geopolitical tensions in the Middle East, easing some near-term inflation and supply pressure concerns despite ongoing uncertainty around the US-Israeli conflict with Iran.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.2%, 0.1%, and 0.6%, respectively.In the macroeconomy, investors are eyeing Australia's consumer price index report next week.In corporate news, Bendigo and Adelaide Bank (ASX:BEN) reported on Friday that its total capital for the quarter ended March 31 rose to nearly AU$6 billion, compared with AU$5.91 billion a year ago.Monadelphous Group (ASX:MND) secured new construction and maintenance contracts in the resources and renewable energy sectors, totaling AU$120 million.Australia's benchmark index rose 1.5% or 125.1 points to close at 8,621.70 on Thursday.

ASX 200ASX:BENASX:MND
Asia

Monadelphous Group Wins New Contracts Totaling AU$120 Million

Monadelphous Group (ASX:MND) secured new construction and maintenance contracts in the resources and renewable energy sectors, totaling AU$120 million, according to a Friday filing with the Australian bourse.The company won a five-year panel contract with Rio Tinto (ASX:RIO) for mobile crane and lifting services across its Pilbara port and mine facilities in Western Australia, and a three-year contract to continue providing multidisciplinary sustaining capital services, the filing said.The company also secured a contract for the construction of a battery energy storage system at Fortescue's Cloudbreak mine site, with work expected to be completed in the second half of the year.Additionally, the company was appointed to a panel to provide structural and mechanical maintenance services for Port Waratah Coal Services at the Port of Newcastle, New South Wales, for three years, per the filing.

ASX:MNDASX:RIO
Asia Markets

ASX Preview: Australian Shares to Fall as Middle East Conflict Escalates; Fortescue Ramps Up Delivery of Industrial, Integrated Green Energy Grid to Eliminate Use of Diesel

Australian shares are poised to fall on Friday as escalating fears of a Middle East conflict, including intensified Israeli strikes in Lebanon, threats around the Strait of Hormuz, and fragile ceasefire diplomacy involving Iran and the US, weigh on global risk sentiment and energy supply outlooks.Overnight, the S&P 500 and the Dow Jones Industrial Average each rose 0.6%, while the Nasdaq Composite gained 0.8%.In the macroeconomy, Australia's home values are diverging sharply across states, with the strongest growth in Western Australia and Queensland as population gains outpace new housing supply and construction pipelines remain tight, Cotality said in a Friday report.In corporate news, Fortescue (ASX:FMG) is targeting the elimination of diesel as a fuel as part of an industrial, fully-integrated green energy grid dedicated to eliminating fossil fuels, planning to power all of its operations in Western Australia's Pilbara region for 24-hour periods without fossil fuels in 2027, according to a Friday Australian bourse filing.Monadelphous Group (ASX:MND) has secured new construction and maintenance contracts and extensions worth around AU$145 million across key resource sector operations in Australia and Papua New Guinea, according to a Friday filing with the Australian bourse.Australia's benchmark index rose 0.2% or 21.4 points to close at 8,973.20 on Thursday.

ASX 200ASX:FMGASX:MND

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