NRW Holdings (ASX: NWH) subsidiary Golding Contractors has won a $500 million extension to its existing contract for mining services work at Stanmore Coal’s Isaac Plains East operation. The extension will see Golding conduct work at the project through to June 2024.
NRW Holdings Limited (ASX :NWH) is pleased to announce that its wholly owned subsidiary Golding Contractors Pty Ltd (Golding), has reached agreement with Stanmore Coal (ASX:SMR) for a five-year extension to its current contract for mining services at Isaac Plains East.
The value of this award adds approximately $500M to the existing contract and extends the project term to June 2024.
NRW CEO and Managing Director Jules Pemberton said “I am extremely pleased that the Golding relationship with Stanmore Coal at Isaac Plains has continued with the award of a five-year contract extension at Isaac Plains East. The relationship, which commenced in 2015 has been a productive and successful partnership and we look forward to supporting Stanmore’s growth ambitions as they further develop their extensive resource base over the coming years.
Golding will deploy new equipment with a capital cost of circa $40 million to support the contract extension which is likely to be incurred in FY20.
