05/04/2019 - 12:26

SRG secures up to $115m of work with Evolution

05/04/2019 - 12:26

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Subiaco-based SRG Global has won a drill-and-blast services contract extension with Evolution Mining at several of its gold mines in Australia.

SRG secures up to $115m of work with Evolution
David Macgeorge says the contract win is a significant achievement for SRG Global's mining services team.

Subiaco-based SRG Global has won a drill-and-blast services contract extension with Evolution Mining at several of its gold mines in Australia.

It received an initial three-year term contract with Evolution, as well as an option to extend for a further two years.

In a statement, SRG Global said the three-year contract would produce revenue of around $78 million, and the two-year extension would increase the total contract value to approximately $115 million.

The scope of the agreement comprises of Evolution’s Mount Rawdon and Mount Carlton mines in Queensland, and its Cowal open pit mine in NSW.

SRG Global said the contract built on its existing five-year relationship with Evolution.

The contractor also said its existing fleet would undertake the works, with minimal growth capital required over the contract term.

SRG Global managing director David Macgeorge said the contract win was a significant achievement for its mining services team.

“It reinforces our strong working relationship with Evolution and underscores the confidence tier one mining companies have in our abilities as a leading drill and blast contractor,” he said.

SRG Global was born from a merger between SRG and Global Construction Services (GCS) in September 2018.

Shares in SRG were up 12.5 per cent to trade at 36 cents each at 1.40pm AEDT.

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