20/04/2009 - 08:55

NRW in $200m BHP iron ore deal

20/04/2009 - 08:55

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Mining services company NRW Holdings says it is in line for a $200 million BHP Billiton contract for its Rapid Growth Project 5 in the Pilbara.

NRW in $200m BHP iron ore deal

Mining services company NRW Holdings says it is in line for a $200 million BHP Billiton contract for its Rapid Growth Project 5 in the Pilbara.

In a brief statement, NRW said that together with John Holland and Laing O'Rourke Australia Construction, the consortium has received a letter of intent.

The letter authorises work to start on the southern section of the rail duplication project for BHP's efforts to significantly expand its iron ore operations in the state's north.

"The final contract is in the last stages of negotiation and is expected to be signed in the near future," NRW said.

Shares in NRW, which were previously in an extended trading halt, closed down nine cents to 71 cents today. Over the past month, NRW's share price has soared from 24 cents to 80 cents.

The announcement follows the awarding of a $500 million contract by BHP to Macmahon Holdings and Leighton Holdings two weeks ago for work on the Rapid Growth Project 5.

 

 

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