NRW acquires mining assets

Jules Pemberton-led NRW Holdings has announced that its wholly owned subsidiary Golding Contractors has executed a deal to acquire a range of assets at Stanmore Resources’ South Walker Creek mine site in Queensland.

The agreement is valued at $85 million – minus $15.3 million in employee liabilities – and will be funded through NRW’s asset finance operation.

It is also tipped to generate annual revenue of $250 million.

Golding will attain the mining contract, fleet and 550 employees of which HSE Mining has utilised at South Walker Creek, and is presently working with the company in respect to transition-based activities.

As it stands, the mining services contract is due to expire in August next year, although there is scope for Golding and Stanmore to extend the arrangement.

“NRW, through our Golding and Action drill and blast businesses, has had a long association with Stanmore and I look forward to our teams continuing to deliver industry leading services,” Mr Pemberton said.

“I also look forward to welcoming the HSE personnel into the Golding and broader NRW team.”

A leading civil contracting and mining services company, NRW has substantially increased its contract pipeline in 2024, following significant contract wins in March and May valued at $270 million and $240 million respectively.

NRW last traded at $2.95 per share as of 10.12am WST.