What contract did GR Engineering Services (ASX:GNG) finalise with Genesis Minerals (ASX:GMD)?

GR Engineering Services Limited (ASX:GNG) has executed a $229 million engineering, procurement, and construction (EPC) contract for the Tower Hill Gold Project. The deal was signed with Genesis Minerals (Leonora) Pty Ltd, which is a wholly-owned subsidiary of Genesis Minerals Limited (ASX:GMD).

What is the significance of this contract for GR Engineering Services (ASX:GNG)?

This contract formalises GR Engineering’s involvement with the Tower Hill Gold Project, locking in a substantial $229 million addition to its order book.

What are the production expectations for the Tower Hill Gold Project?

The Tower Hill Gold Project is being designed as a large-scale mining operation with an expected processing capacity of 3.5 to 4.0 million tonnes per annum (Mtpa). GR Engineering is tasked with delivering the processing infrastructure to reliably support this target throughput.

What are the current share prices of GR Engineering (ASX:GNG) and Genesis Minerals (ASX:GMD)?

At the time of reporting, GR Engineering Services (ASX:GNG) was trading at $5.01 per share, while Genesis Minerals (ASX:GMD) was trading at $5.90 per share. These prices establish the baseline market valuations as the market processes the finalisation of this major project contract.

How does this contract affect the investment thesis for GR Engineering Services (ASX:GNG)?

This deal strengthens GR Engineering’s medium-term investment thesis by providing clear revenue visibility and validating its capability to secure major tier-one engineering contracts. It underscores the company's established position within the Australian minerals sector and boosts its contracted order book, reducing near-term revenue risk for shareholders.

What does this contract tell us about the strategy of Genesis Minerals (ASX:GMD)?

By committing $229 million to an EPC contract, Genesis Minerals is moving rapidly from exploration and planning into the construction and development phase of the Tower Hill Gold Project. This heavy capital expenditure (capex) commitment aligns with management's long-term strategy to expand its operational footprint and production capacity in the Leonora gold region.

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GR Engineering secures $229M Genesis Minerals deal

Written by Brie CarterPublished May. 21 2026Last Updated May. 21 2026

GR Engineering Services (ASX:GNG) has finalised a $229 million engineering, procurement, and construction contract with Genesis Minerals (Leonora), a wholly-owned subsidiary of Genesis Minerals (ASX:GMD).

The contract formalises GR Engineering’s involvement with the Tower Hill Gold Project, following its initial appointment as the preferred contractor on Feb. 23.

GR Engineering Managing Director Tony Patrizi highlighted the company's strong track record in the Australian minerals sector, expressing confidence in delivering a safe and successful outcome for the 3.5 to 4.0 million tonnes per annum operation.

At the time of reporting, the share prices of GR Engineering Services and Genesis Minerals were $5.01 and $5.90, respectively.