Diversified contractor NRW Holdings (ASX: NWH) has welcomed the launch by client Altura Mining of a definitive feasibility study into doubling the size of its lithium project at Pilgangoora, in the Pilbara, to 440,000tpa of lithium concentrate per year. In February, NRW was awarded a $110m five-year mine development and mining services contract by Altura based on the initial scope. NRW said today an expanded mine scope could add $20m in revenue annually.
NRW Holdings Limited refers to today’s announcement by Altura Mining Limited regarding a potential doubling of the Pilgangoora Lithium Project, with a Definitive Feasibility Study to commence immediately.
In line with Altura’s comments, NRW is committed to building on the excellent working relationship that has developed since the initial contract award in March this year.
The initial contract was valued at approximately $110 million over five years and the proposed expansion would potentially generate circa $20m of additional revenue per annum.
As disclosed in the Altura announcement, NRW’s existing Pilgangoora fleet would move to 24 hour operations with a commensurate increase in personnel.
Kim Hyman
Company Secretary
