Macmahon (ASX:MAH) executed a letter of intent with Wolfram, a Bumi Resources subsidiary, for the restart of operations at the Mount Carlton mine in Queensland, according to a Monday filing with the Australian bourse.
Negotiations are underway for a contract, which is expected to have an initial 33-month term and a total value of roughly AU$250 million, the filing said.
The surface mine is expected to restart in April, followed by underground mining shortly after, per the filing.
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