NRW Holdings subsidiary Action Drill & Blast has won a $140 million contract with Fortescue Metals Group at the Cloudbreak iron ore mine near Newman.

NRW said the four-year drilling contract was the largest awarded to Action Drill & Blast to date.

The contract will commence immediately, with approximately 100 workers and 15 drill rigs required to perform the works.

"Action Drill & Blast was established in 2010 to service NRW's drill and blast requirements and also to seek out external contracts; it is very pleasing to see them continue to succeed in strengthening relationships with our long-term client Fortescue," chief executive Jules Pemberton said.

At close of trade NRW shares were up 6 per cent, trading at $1.95.