logo
powered-by-canningspurple
Navigation
logo powered-by-canningspurple
  • Insight
  • Companies
    • Artemis Resources
    • BLK Auto
    • BMG Resources
    • ChemX Materials
    • Core Lithium
    • Dreadnought
    • FBR
    • Finbar
    • Focus Minerals
    • Gold Road Resources
    • Hastings Technology Metals
    • Hyzon Motors
    • Jupiter Mines
    • Lykos Metals
    • Mineral Resources
    • Northern Minerals
    • Northern Star
    • NRW Holdings
    • Paydirt
    • Rand Mining
    • Raven SR
    • Rox Resources
    • St George Mining
    • Sundance Resources
    • Tribune Mining
    • Vimy Resources
    • VRX Silica
  • Industries
    • Broking Firm
    • Clean energy
    • Copper
    • Gold
    • Insight
    • Iron ore
    • Lithium
    • Manganese
    • Mining Services
    • Nickel
    • Oil & Gas
    • Property
    • Rare Earths
    • Silica Sand
    • Technology
    • Uranium
    • Zinc
  • Video
  • About
  • Contact
  • Subscribe

Home / Mining Services / NRW mining contract mobile plant sale

NRW Holdings

  • ASX: NWH
    • Mining Services

NRW mining contract mobile plant sale

  • 11 July

Leading mining and civil contractor NRW Holdings Limited (ASX: NWH) advises that Boggabri Coal Operations Pty Ltd (BCO), part of the Idemitsu Group, has exercised an Option to acquire the majority of the major mining equipment of Golding Contractors Pty Ltd (a wholly owned subsidiary of NWH) that is engaged under the Maintenance Services and Hire Agreement at the Boggabri Coal Mine.

The Agreement will see the sale of 38 major mobile mining assets from Golding to BCO with a target completion date of the end of July 2021. Golding will continue to perform maintenance services on site across these, and another 50 (approximately) pieces of major mining equipment, engaging a workforce of over 150 personnel on site.

BCO’s exercise of the Option will reduce group pre-tax earnings by circa $1.8M per annum. The equipment will be sold for circa $81 million of which circa $64 million will pay down asset financing debt. The transaction reduces pro forma net debt (unaudited) from circa $115 million as at 30th June 2021 (made up of cash of $145M and interest bearing debt of $260M) to $34 million.

NRW’s CEO and Managing Director, Jules Pemberton commenting on the Sale Agreement said,

“The option for Boggabri Coal Operations to acquire all or part of the associated Mining fleet was identified at the time of the acquisition of BGC Contracting. This transaction will reduce debt and increase return on capital employed. We look forward to continuing to support BCO to ensure we are best placed to continue to provide our services beyond the current contract completion date of December 2022”

View full announcement

Peter Klinger

  • Contact

Share

  • LinkedIn
  • Twitter
  • Facebook

Most Read

  • 1 November

Nickel, cobalt anomalies at Sockovac; large new gold, copper anomalies at Sinjakovo

  • ASX:LYK
    • Ni
    • Cu
  • 28 September

Core Lithium – Primero Group Awarded EPC Contract for Finniss DMS Plant

  • ASX: CXO
    • Li
    • Clean energy
  • Insight
  • 26 June

Picking winners – the portfolio approach that offers blue-sky potential

  • ASX: ARV
    • Clean energy
    • Cu

Related

  • 17 May

MinRes appoints Zimi Meka as non-executive director

  • ASX: MIN
    • Mining Services
  • 12 May

Wodgina powers up with first lithium output

  • ASX: MIN
    • Mining Services
  • 3 May

MinRes’ CSI division wins Finniss lithium crushing contract

  • ASX: MIN
    • Mining Services
  • 3 May

MinRes completes $US1.25b senior unsecured notes offering

  • ASX: MIN
    • Mining Services

NEWSLETTER

Get news, as it happens

Sign up to receive our weekly roundup, and releases of interest, as they happen.

  • This field is for validation purposes and should be left unchanged.
logo

Investor Insight, powered by Cannings Purple, delivers the stories that matter to the people who matter – across your preferred communications platform.

From breaking news to analysis, opportunities and thought leadership, Investor Insight is your window into some of Australia’s most exciting listed and non-listed companies.

  • Insight
  • Companies
    • Aeris Resources
    • Altrad
    • Argonaut
    • Artemis Resources
    • BLK Auto
    • BMG Resources
    • Buru Energy
    • Catalyst Metals
    • ChemX Materials
    • Core Lithium
    • DDH1 Drilling
    • Dreadnought
    • FBR
    • Finbar
    • Focus Minerals
    • Gold Road Resources
    • Hastings Technology Metals
    • Hyzon Motors
    • Jupiter Mines
    • Lykos Metals
    • Mineral Resources
    • Northern Minerals
    • Northern Star
    • NRW Holdings
    • Paydirt
    • Rand Mining
    • Raven SR
    • Rox Resources
    • St George Mining
    • Sundance Resources
    • Torrens Mining
    • Tribune Mining
    • Vimy Resources
    • VRX Silica
    • Westgold Resources
    • Zenith Minerals
  • Industries
    • Broking Firm
    • Clean energy
    • Copper
    • Gold
    • Insight
    • Iron ore
    • Lithium
    • Manganese
    • Mining Services
    • Nickel
    • Oil & Gas
    • Property
    • Rare Earths
    • Silica Sand
    • Technology
    • Uranium
    • Zinc
  • Video
powered-by-canningspurple
  • About
  • Contact
  • Subscribe
  • Cannings Purple
  • Privacy Policy
  • Disclaimer

Copyright 2022 Cannings Purple