NRW Holdings shares rise on $1.6b Stanmore contract
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More news: NRW Holdings shares rose 1.2% to $3.79 by 3:20pm AEDT after the company announced it had been awarded a mining services agreement with Stanmore SMC worth $1.6 billion.
The stock has jumped 44.47% over the last 12 months.
The five-year agreement will start in January 2026 and involves operating and maintaining eight fleets of heavy mining equipment.
NRW Holdings subsidiary Golding wins $1.6b Stanmore contract
The news: Golding Contractors, a wholly owned subsidiary of ASX-listed construction and mining contractor NRW Holdings, has signed a mining services agreement (MSA) with Stanmore SMC, worth a total of $1.6 billion.
The numbers: NRW said the MSA's five-year term will commence in January 2026 and will employ around 650 personnel at Stanmore's South Walker Creek (SWC) mine in central Queensland.
The deal with Stanmore SMC, a wholly owned entity of ASX-listed coal miner Stanmore Resources, will see NRW's order book climb to its highest level of $7 billion.
The context: The scope of the MSA includes operating and maintaining eight fleets of heavy mining equipment to remove overburden and mine steel-making coal consistent with current contractual arrangements.
What they said: "I am delighted to announced that NRW has been awarded this contract with Stanmore, allowing us to build on the successful relationship we have had with Stanmore over a long period," NRW chief executive Jules Pemberton said.
"NRW's drilling and blasting subsidiary ADB is currently working with Stanmore at SWC and Golding now renews its prior association."
The source: ASX announcement
