NRW up on $200m Rio Tinto contract win

Shares in mining contractor NRW Holdings were up slightly following the announcement of a $200 million contract for the design, development and operation of an iron ore mine at Rio Tinto's Western Turner Syncline Section 10 deposit in the Pilbara.

The contract, which will be NRW's largest mining operation in Western Australia, was awarded to NRW as a joint venture with the traditional landowners, the Eastern Guruma people and includes engineering design and development of the site infrastructure, mining of the Section 10 iron ore deposit and associated ore haulage with laydown at Tom Price via a purpose-built 15.5 kilometre long road.

Road construction is expected to take four months with mining and haulage to occur over three and a half years.

The Western Turner Syncline Section 10, located 25 kilometres north west of Tom Price will provide additional feed for the Tom Price processing plant.

At AEST1299 shares in NRW were up half a cent, or .27 per cent, to $1.88.