NRW Holdings secures significant contract variation

NRW Holdings Limited (ASX: $NWH) through its subsidiary, Golding Contractors Pty Ltd, has signed a variation to its existing 5-year Mining Services Agreement with Jellinbah Mining Pty Ltd at the Jellinbah East Mine in Central Queensland. The variation involves operating and maintaining a second 600 tonne excavator and 220 tonne rear dump truck fleet to mine pre-strip overburden, expanding the scope of the agreement to two 600 tonne mining fleets. The variation is valued at approximately $160 million and is set to commence in April 2024 utilizing existing owned fleet and supplemented with hire equipment.

Executive commentary on contract variation

We are pleased to announce the signing of the variation to the existing Mining Services Agreement with Jellinbah Mining Pty Ltd. This variation represents a significant opportunity for our subsidiary, Golding Contractors Pty Ltd, and further strengthens our presence in the mining services sector. The additional mining fleet and the value of approximately $160 million underscore the confidence in our capabilities and the quality of services we provide. We look forward to commencing operations in April 2024 and delivering on our commitments to Jellinbah Mining Pty Ltd.

Summary of NRW Holdings contract variation

NRW Holdings Limited (ASX: $NWH) has secured a significant variation to its 5-year Mining Services Agreement with Jellinbah Mining Pty Ltd, expanding the scope to include operating and maintaining a second 600 tonne excavator and 220 tonne rear dump truck fleet. The variation, valued at approximately $160 million, is a testament to NRW's capabilities in the mining services sector. In addition to this, NRW subsidiary Action Drill & Blast Pty Ltd has been awarded multiple contracts in Queensland, further demonstrating the company's strong position in the market. With a workforce of around 7,200 people supporting projects across Australia, NRW continues to play a pivotal role in the resources and infrastructure sectors, delivering a wide range of services and tailored solutions.