By Reuters
Oct 22 (Reuters) – Golding Contractors, a unit of Australia’s NRW, will provide mining services at resources firm Stanmore SMC’s South Walker Creek (SWC) mine in Queensland for a total of A$1.6 billion ($1.06 billion), sending shares to an over 12-year high.
Contract mining services provider, NRW, saw its stock shoot up as much as 3.2% to A$3.86 on Tuesday, its highest since early May, 2012.
The mining services deal, which is for a five-year term and commences in January 2026, will employ around 650 workers at the mine.
NRW’s order book will jump to its highest level of A$7 billion after the deal with coal miner Stanmore Resources’ unit. Shares of Stanmore Resources gained as much as 2.9%.
Under the agreement, NRW will maintain and operate eight fleets of heavy mining equipment to remove overburden and mine steel-making coal consistent with current contractual arrangements.
($1 = 1.5024 Australian dollars)
Reporting by Rishav Chatterjee in Bengaluru; Editing by Alan Barona
