Nov 26, 2019

Strong mining performance boosts NRW revenue

Strong mining performance boosts NRW revenue

NRW Holdings’ mining business achieved revenue of $622.9 million last financial year, up from $347.3 million the previous year.

It was part of an overall  increase in revenue to $1.1 billion for the diversified contract service provider, up 49 per cent from the previous year

In his address to the company AGM, chief executive officer and managing director Jules Pemberton said this took into account a full year of the contributions from mining contractor Golding compared to 10 months when the business was acquired during the 2018 financial year.

Jules Pemberton.

Golding secured a $950 million, five-year extension to its Isaac Plains mining service contract in November 2018.

The increased activity has been supported with new mining fleet and transfer of fleet from NRW’s Middlemount operations.

Mr Pemberton said a number of existing mining clients had increased production volumes during the year.

The drill and blast arm of the NRW business has also seen an increase in activity and earnings, with projects including Isaac Plains and the Baralaba coal mine.

Chairman Michael Arnett said the company – marking its 25th anniversary – had grown to include more than 3800 direct and indirect employees Australia wide, including more than 300 employees who came onboard through the acquisitions of the former RCR Mining Technologies business.