Nov 16, 2018

Golding wins $500m contract extension

Golding wins $500m contract extension

Golding Contractors has won a five-year extension to its current contract for mining services at Isaac Plains East coking coal mine at Moranbah.

Parent company NRW Holdings said this added about $500 million to the existing contract and extended the project term to June 2024.

“I am extremely pleased that the Golding relationship with Stanmore Coal at Isaac Plains has continued with the award of a five-year contract extension at Isaac Plains East,” NRW chief executive officer and managing director Jules Pemberton said.

“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.”

Golding will deploy new equipment with a capital cost of circa $40 million to support the contract extension which is likely to be incurred in FY20.

Isaac Plains East is a new open cut mine at the Isaac Plains complex, where owner Stanmore is undertaking a bankable feasibility study to also start up a new underground operation.

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