14/02/2017 - 10:24

NRW lined up for lithium work

14/02/2017 - 10:24

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NRW Holdings is set to receive a $110 million contract if Altura Mining moves ahead with plans to develop its Pilgangoora lithium project.

NRW Holdings is set to receive a $110 million contract if Altura Mining moves ahead with plans to develop its Pilgangoora lithium project.

Altura awarded NRW the $110 million contract today, with the scope of work including construction of the mining infrastructure such as a tailings storage facility and a run of mine area, development of mine haul roads, drill and blast services, and load and haul production mining of ore.

The contract will run for about five and a half years, with construction due to begin by the end of the March quarter.

The contract is subject to Altura making a final investment decision to develop the project.

“NRW is delighted to be awarded the mining contract by Altura to develop their new lithium mine in the Pilbara,” NRW chief executive Jules Pemberton said.

“We look forward to working closely with the Altura team and are ready to commence as soon as the final investment decision is made.”

NRW also announced today the extension of an existing contract with Talison Lithium for services at the miner’s Greenbushes operation.

The contract extension was valued at about $12 million, with NRW subsidiary Action Drill & Blast to continue to provide blast hole drilling, grade control drilling and blasting services, which it has been doing at the mine since 2011.

NRW shares were 3.3 per cent higher to 77 cents each, while Altura shares were 5.7 per cent higher to 18.5 cents each, at 10:20am.

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