Matrix awarded technology development contract by Newcrest

Matrix Composites & Engineering Ltd (ASX:MCE, “Matrix” or the “Company”) is pleased to announce it has secured a contract with Newcrest Mining (“Newcrest”) to develop a high-tech solution for its Cadia gold mine in New South Wales.

Under the scope of the works, Matrix will utilise its expertise in advanced materials technology to develop a composite replacement for steel componentry within their block caving operations at Cadia.

The scope of works for product development, with a contract value of up to approximately $0.5 million, will commence immediately and is planned for completion in October 2021. If the development work is successful, it is intended that Matrix would manufacture the full-scale solution at its facility in Henderson, Western Australia for supply directly to Newcrest.

The contract aligns with Matrix’s strategy to increase penetration of its advanced materials technologies into operations and brownfields projects. It follows a recent agreement with Woodside Petroleum to provide technology development services, utilising the Company’s expertise in advanced materials technology, composite materials and advanced manufacturing.

Matrix Chief Executive Officer Aaron Begley said the advanced composite solution has applications for other companies in the mining sector and potentially in the oil and gas space.

“We are pleased to be working with Newcrest and look forward to delivering on this project to replace steel with an innovative composite product that will introduce new technology to make the block caving process safer and more efficient,” Mr Begley said.

“While the scope of this contract for product development is modest, it demonstrates further progress in our strategic pivot from targeting greenfields CAPEX work to locally-based brownfields OPEX in the oil and gas and resources sectors.”

“We are optimistic that successful delivery of this project has the potential to unlock larger scale contracts with Newcrest and other blue-chip resources companies.”

This announcement was authorised for release by the Managing Director and CEO of Matrix.

For further information please contact:

Investors:

Aaron Begley
Chief Executive Officer
Ph: +61 8 9412 1200 
Email: aaron.begley@matrixengineered.com

Brendan Cocks
Chief Financial Officer
Ph: +61 8 9412 1200
Email: brendan.cocks@matrixengineered.com

Media:

Adrian Rauso
FTI Consulting
Ph: +61 9321 8533
Email: adrian.rauso@fticonsulting.com

ABOUT MATRIX COMPOSITES & ENGINEERING

Matrix Composites & Engineering specialises in the design, engineering, and manufacture of composite and advanced material technology solutions for the oil and gas, civil and infrastructure, resources, defence, and transportation industries. With more than 20 years-experience, Matrix has gained a reputation as an industry leader and has become a major exporter of Australian goods and services with customers located all over the world. From its award-winning head office in Australia and offices in the United states, and a global network, Matrix is uniquely positioned to deliver complete turnkey solutions offerings with localised customer support.