NRW Holdings Golding Signs Contract for Mt Carbine Mine Reopening

NRW Holdings Limited's (ASX: NHW) subsidiary, Golding Contractors Pty Ltd, has signed a Contract with EQ Resources Limited for the reopening of the Mt Carbine tungsten mine in Queensland. The contract has a duration of 70 months and is estimated to be worth AU$179 million. Initially, the first 12 to 18 months of the project will be conducted on a rates and cost-plus basis to establish a specific cost baseline. After this period, the plan is to transition to a rise and run matrix of rates based on fleet composition and material type.

The scope of the project includes mine planning, scheduling, and operations, involving the movement of waste, ore, and low-grade stockpile material to the processing plant. The project is expected to employ around 50 individuals, mainly sourced from the local and wider North Queensland area. Golding will utilize a combination of existing, hired, and client-owned fleet for the project.

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