NRW Holdings Ltd (ASX:NWH) has announced its wholly-owned subsidiary Golding Contractors has again extended a limited notice to proceed with respect to the Baralaba North coal mine in Queensland to May 9, to allow parties time to further optimise the mine plan and finalise the contract mining agreement. The initial contract term has been extended by four months, and as a consequence the contract value has increased by $70 million, to $420 million.
NRW Holdings Limited (ASX:NWH) today provides an update to its ASX announcements of the 8 March and 19 April 2018 with respect to the Baralaba North Coal Mine.
NRW’s wholly owned subsidiary, Golding Contractors Pty Ltd (Golding) and Wonbindi Coal Pty Ltd (a subsidiary of Baralaba Coal Company Pty Ltd) have agreed to extend the Limited Notice to Proceed with respect to the Baralaba North Coal Mine in Queensland to 9 May 2018. This extension allows finalisation of the mine plan optimisation with the initial contract term to be extended by four months. As a consequence the contract value has now increased and is expected to be approximately $420 million.
Golding is continuing to work closely with Wonbindi’s management team over the last two months and significant progress has already been made re-establishing and restarting the mine. Blasting and overburden removal has commenced with two excavator/truck fleets now commissioned