NRW Holdings (ASX:NWH) has received a Notice of Award for the Bulk Earthworks contract for the Iron Bridge Magnetite Project, a joint venture between Fortescue Metals Group subsidiary FMG Iron Bridge and Formosa Steel IB.
The award remains subject to finalisation of a number of outstanding contractual items but in the meantime, NRW has been directed to commence mobilisation. The Iron Bridge Magnetite Project is the development of a new magnetite mine (including processing and transport facilities) and associated infrastructure.
It will support production of 22 million wet metric tonnes per annum (wmtpa) of high grade, magnetite concentrate product. The Iron Bridge site comprises the North Star, Eastern Limb, Glacier Valley and West Star magnetite iron ore deposits and is located 145km south of Port Hedland.
The contract scope for NRW includes the bulk earthworks and drainage for roads, processing plant and infrastructure for the new mine site development. The contract value is circa $70 million and is expected to have a duration of approximately 45 weeks. At its peak there will be approximately 200 site based personnel required for the project.
NRW’s CEO and Managing Director, Jules Pemberton commenting on the award stated, “NRW is pleased to be involved in this exciting new project with Fortescue and looks forward to its successful execution.”