North American Construction Boosts Backlog With Australian Project

Group 1 - North American Construction Group Ltd.'s subsidiary, MacKellar Group, has secured a new contract from a major copper producer in New South Wales, Australia [1] - The contract involves early works and development activities at a long-life copper mine, focusing on site infrastructure, overburden removal, and reclamation facility closure [2] - Project work is set to commence in Q1 2025 and conclude by Q2 2026, aligning with the company's strategic goals of diversification in customers, commodities, and geography [3] Group 2 - North American Construction's growth strategy includes joint ventures and acquisitions, particularly with First Nation alliances, to enhance service delivery in construction and mining [4] - The company acquired MacKellar Group for an expected total of $395 million, contributing to a 75% year-over-year increase in Q3 2024 EBITDA [5] - Significant benefits are derived from joint ventures with Nuna Logistics and Mikisew Group, enhancing equipment access and service offerings [6] Group 3 - Shares of North American Construction have increased by 5.8% over the past month, outperforming the Zacks Building Products - Heavy Construction industry's decline of 3.9% [8] - The company is expected to continue benefiting from rising demand for equipment and services in Australia [8]