MACMAHON HOLDINGS LIMITED — Capital/Financing Update 2011

Nov 22, 2011

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23 November 2011

Macmahon awarded its second quarrying contract in Nigeria

Macmahon Holdings Limited (ASX:MAH) today announced its subsidiary company in Nigeria has been awarded a seven year contract for quarrying operations near Calabar in Nigeria.

The contract for United Cement Company of Nigeria Limited (UniCem), a joint venture between Lafarge, Holcim and Flour Mills of Nigeria, will be Macmahon’s second operation in the country.

The new contract is to undertake quarrying operations at UniCem’s 2.5Mtpa cement manufacturing plant in Mfamosing, about 40km north east of Calabar in Cross River State, Nigeria. Commencing in January 2012, the contract is expected to generate revenue in the order of US$18 million per year.

Macmahon will take over the existing operations, which UniCem has conducted since 2008. The broad scope of work includes overburden removal and the drilling, blasting, excavation and delivery of limestone, marl and shale from the quarry to the cement plant crushers. The total overburden and feed material movement is in the order of five million tonnes per year.

Macmahon Chief Executive Officer Nick Bowen said the Calabar project was another exciting opportunity in Nigeria and securing the contract was a result of the Company’s performance at Ewekoro, the first quarry contract Macmahon secured in Nigeria with Lafarge.

“Calabar will be our second contract in Nigeria and the fifth limestone quarry contract that Macmahon operates across Malaysia, Indonesia and Nigeria.

“Macmahon’s increasing presence in Nigeria further strengthens our ability to continue expanding in West Africa.

“Increasing our international footprint through established clients is in direct alignment with our plan to grow steadily and control risk.”

As part of the new contract Macmahon will take over the existing quarry employees and purchase a fleet of mining equipment from UniCem.

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For further information, please contact:

Investors
Theresa Mlikota	Chief Financial Officer	+61 407 470 859
Media
Stuart McLagan	Group Communications Manager	+61 458 755 117

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About Macmahon

Macmahon is a leading Australian contract mining and construction company with major projects throughout Australia, in New Zealand, Asia, Mongolia and Africa.

An ASX/S&P 200 company, Macmahon has played a major role in the delivery of many of Australia’s largest multi-disciplinary mining and construction projects throughout its 48 year history.

Employing more than 3800 people, Macmahon offers the full range of underground and surface mining services and comprehensive construction capabilities spanning transport, marine, water and resource infrastructure services.

With a commitment to providing end to end services, Macmahon’s reputation for outstanding teamwork, integrity and commitment to the environment is underpinned by the company’s core value - safety.

Visit www.macmahon.com.au for more information.

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