NRW Holdings (ASX:NWH) said its wholly owned subsidiary, Golding Contractors, has signed a mining services agreement with TEC Coal at the Stanwell Meandu Mine in Southern Queensland's Burnett Region.
The agreement, valued at approximately $750 million over 5.5 years, will commence in January and includes a six-month mobilisation phase followed by a five-year operational phase.
Under the terms of the contract, TEC Coal will supply the major mining fleet, while Golding will manage the entire mine operation, including the operation and maintenance of three fleets of heavy mining equipment, a dragline, and the processing plant, alongside statutory responsibilities and mine planning.
The MSA is expected to employ around 400 personnel from the local community. NRW CEO Jules Pemberton said the award reflects Golding's strong reputation for delivering safe and efficient contract mining services.
"The capital-light structure of the contract aligns with our strategy of reducing the capital intensity of operations while continuing to create shareholder value," he added.
Pemberton also welcomed the local workforce, emphasising the company's commitment to providing a safe and positive workplace.