Golding wins $500m contract extension at Isaac Plains
NRW Holdings subsidiary Golding Contractors has been awarded a five-year, $500 million contract extension by Stanmore Coal at the Isaac Plains East mine in Queensland.
The extension is the second that Stanmore has awarded to Golding at the Moranbah mine in the past six months.
Stanmore awarded a one-year contract extension to Golding to June 2019 earlier this year. The five-year extension announced today pushes the relationship to June 2024.
The five-year extension has a flexible structure which gives Stanmore the flexibility to scale up and down production according to market conditions, and to manage a transition to Isaac Downs once environmental approvals are obtained.
NRW and Golding will work together to transition the Isaac Plains East operation to adjacent open cut mining areas.
Golding plans to deploy $40 million worth of new equipment at Isaac Plains in the 2020 financial year.
Stanmore, which has a 1.2 million tonnes per year rail and port capacity, also communicated the possibility of operating the coal handling preparation plants (CHPP), which coupled with the train can load up to 3Mt/y of product.
Mining operations at Isaac Plains were launched in July this year following Stanmore’s acquisition of the site in 2015.
NRW chief executive Jules Pemberton was pleased the relationship between the two companies would continue.
“The relationship, which commenced in 2015, has been a productive and successful partnership and we look forward to supporting Stanmore’s growth ambitions as they further develop their extensive resource base over the coming years,” Pemberton said.
Golding was this week also awarded an early contractor involvement (ECI) contract by Fitzroy Australia Resources to provide project development services at the Ironbark No. 1 coal mine in Queensland.