Rio Tinto has named Perth-based mining contractor NRW Holdings as its preferred earthmover for the next five years for the expansion of its Pilbara iron ore operations to 333 million tonnes per year.
A joint venture between civil contractor NRW Holdings and indigenous contractor Eastern Guruma has been awarded a $160 million contract by Rio Tinto Iron Ore.
ENTREPRENEUR Jeff McGlinn is reviving a business closed down by his former company, NRW Holdings, after cashing out from the mining services company last year to the tune of almost $42 million.
Welshpool-based mining contractor NRW Holdings has won a $50 million contract to undertake preliminary works at the Middlemount coal project in Queensland.
The founding managing director and chief executive of NRW Holdings, Jeffrey McGlinn, has resigned from the mining services company to pursue other private business interests.
Shares in NRW Holdings fell as much as 21 per cent after the mining and civil services company forecast a lower net profit of $15 million for the first half of 2009/10.
BHP Billiton has boosted NRW Holdings contract value for work at the Rapid Growth Project 5 by $105 million, taking the total amount to close to $200 million for the mining services company.
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.
Perth-based civil and mining services company, NRW Holdings has posted a net profit of $37.1 million for the financial year, an increase of 13 per cent after attracting a diverse portfolio of clients during the downturn.
NRW Holdings expects its annual profit to be in line with the previous year, following delays to major contracts with BHP Billiton, Citic Pacific and Fortescue Metals Group.
Shares in NRW Holdings have risen sharply in early trade on the back of a 45 per cent lift in its interim net profit driven by higher revenue from its mining division.
Fortescue Metals Group has told engineering company NRW Holdings to walk off the Cloudbreak-to-Christmas Creek rail line site in the Pilbara because construction has been deferred.
Mining services company NRW Holdings Ltd has been awarded a three-year contract, valued at $180 million, for works at OM Holdings Ltd's Bootu Creek manganese mine in the Northern Territory.
NRW Holdings Ltd's value of contracts with Rio Tinto for the Brockman 4 iron project have increased to over $201 million after it today received a letter of intent for a $70 million bulk earthworks deal.
Welshpool-based NRW Holdings Ltd is pleased to advise that the agreement between NRW and Simfer S.A, a wholly owned subsidiary of Rio Tinto, has been extended through to December 31 2009
Earthmoving player NRW Holdings Ltd announced an interim net profit of $22.3 million, which it says puts it on track to at least achieve its full-year prospectus forecast of $40.2 million. Shares in the company were marked down almost 6 per cent today.
The flood of initial public offers on the Australian bourse of recent times may be reduced to a trickle in the first half of 2008, as investors and company vendors seek clarity on the direction of equities markets, interest rates and the US economy.
Welshpool-based mining and earthmoving contractor NRW Holdings Ltd, which recently completed a $303 million initial public offering, has debuted strongly on the Australian Securities Exchange, closing up 20.5 per cent at $2.41.
Former Portman Ltd managing director and Aztec Resources Ltd chairman Ian Burston has been appointed chairman of mining and earthmoving contractor NRW Holdings Ltd, which has lodged a prospectus for its $303 million initial public offering.
Perth-based earthmoving group, NRW, is expected to float on the Australian Securities Exchange as early as next month after an initial public offering, which is expected to raise about $250 million.
WELSHPOOL earthmoving business NRW Pty Ltd has acquired Hazelmere-based Action Mining Services, creating a major player in WA's mining contractor sector.
