- NRW Holdings’ (NWH) subsidiary, Golding Contractors, receive a binding letter of intent (LOI) to enter into a mining services agreement with Wonbindi Coal
- Under the 5.5 year agreement, Golding will undertake work at the Baralaba North Mine in Queensland and it builds onto the relationship that has been in place since 2018
- Golding was first awarded a contract for work four years ago with the scope of work including mine planning, blasting, topsoil removal and the loading and hauling of coal
- The scope of work under the LOI remains the same and includes maintaining and operating a client-owned fleet of equipment, producing an ultra-low volatile PCI coal
- Shares in NRW are down 3.18 per cent on the market and are trading at $2.13
NRW Holdings’ (NWH) subsidiary, Golding Contractors, has received a binding letter of intent (LOI) to enter into a mining services agreement with Wonbindi Coal.
Under the 5.5 year agreement, Golding will undertake work at the Baralaba North Mine in Queensland.
The LOI is valued at roughly $800 million and builds onto the relationship between Golding and Wonbindi Coal where Golding has provided mining services since 2018.
Golding was first awarded a contract for work four years ago with the scope of work including mine planning, blasting, topsoil removal and the loading and hauling of coal.
“This is a great opportunity for Golding to add another full mine operation contract to its portfolio,” CEO and Managing Director Jules Pemberton said at the time.
The scope of work under the LOI remains the same and includes maintaining and operating a client-owned fleet of equipment, producing an ultra-low volatile PCI coal.
This mining services agreement will begin on July 1, 2022.
Shares in NRW were down 3.18 per cent on the market and were trading at $2.13 at 1:00 pm AEDT.