SRG wins $60m in mining contracts

Subiaco-based SRG Global has secured work on three goldmines, including a satellite deposit near Red 5’s Darlot operation in Western Australia.

The contracts were announced this morning and total about $60 million.

The Red 5 contract is for six months of drill and blast services and explosives at the Great Western deposit, located about 55 kilometres from the Darlot mine in the Eastern Goldfields.

SRG will also provide drill and blast services, as well as RC grade control drilling and geotechnical ground support at Evolution Mining’s Cowal operations in NSW under a two-year contract.

A similar, two-year contract was awarded to SRG by Victoria’s Navarre Minerals for work at the Mt Carlton mine in Queensland.

It brings SRG’s total contract wins since mid-November to $471 million.

Fellow Perth company Veris also announced contract wins this morning, including for work on Fortescue Metals Group’s $3.5 billion Iron Bridge magnetite mine in the Pilbara.

Veris has been subcontracted by Queensland business MPC Kinetic to survey a concentrate and water return pipeline at Iron Bridge, as well as provide data and GIS services.

Work has started and is expected to generate $4 million in revenue to Veris.

The company will also survey a $95 million water supply upgrade in rural Queensland town Beaudesert this year as part of a subcontract with Comdain Infrastructure, expected to generate $600,000 in revenue to Veris.

Its shares were up 5.6 per cent on today’s news to trade at 7.5 cents, as at 11:50 AEDT.

SRG’s shares were also up, trading 2.8 per cent higher at 12:32pm AEDT to 54 cents.