The expected contract value is anticipated to be between $1.0 billion and $1.4 billion dependant on final scope
Golding will continue to employ approximately 500 people at the mine. (Credit: aymane jdidi/Pixabay)
NRW Holdings Limited (ASX:NWH) is very pleased to advise that its wholly owned subsidiary Golding Contractors Pty Ltd (Golding) have signed a Letter of Intent (LOI) with Coronado Curragh Pty Ltd (Curragh), a wholly owned subsidiary of Coronado Global Resources Inc. (ASX: CRN), to extend the current six fleet mining services contract beyond 30 September 2021.
Under the terms of the LOI the Mining services contract continues such that negotiations underway in respect of a proposed amended contract can be completed with the intention, subject to agreement as to terms, to extend the relationship with Curragh to 31 December 2026.
The expected contract value is anticipated to be between $1.0 billion and $1.4 billion dependant on final scope.
Under this new arrangement it is anticipated that Golding will spend up to $46M on capital equipment dependant on the final scope.
Golding will continue to employ approximately 500 people at the mine, most of which live in the Central Queensland region.
NRW CEO & Managing Director Jules Pemberton commenting on the LOI said, “This agreement maintains the relationship Golding have established at Curragh Mine since 2014 and reflects our continued ability to support of our client’s mine plans”
Source: Company Press Release