NRW Holdings Limited’s (ASX:NWH) wholly owned subsidiary Golding Contractors has signed a contract with EQ Resources Limited for the restart of open pit mining operations at the Mt Carbine tungsten mine near Cairns, Queensland.
The contract provides for the first 12 to 18 months to be completed on a rates and cost-plus basis to establish a site-specific baseline cost, after which the parties intend to transition to a rise and run matrix of rates, on fleet composition and material type basis.
The scope of the project includes all mine planning, scheduling and operations including moving waste, ore and low-grade stockpile material to the processing plant.
The contract is scheduled to run for approximately 70 months commencing and has an approximate value of $179 million.
EQ Chief Executive Officer Keven MacNeill said the company was happy with the relationship it had developed with Golding over the past year.
MacNeill said: It’s been a collaborative process and has been a positive engagement throughout – tt feels we’ve gained a long-term partner rather than just a contractor.
“Their level of professionalism, proactive approach to problem solving and willingness to work with the EQR team has really set them apart.”
The project will employ approximately 50 people from the local and wider North Queensland area, with Golding deploying a mix of existing, hired and client owned fleet to the project.