NRW Holdings subsidiary Goldings Contractors has confirmed the signing of a new A$179 million deal with EQ Resources (EQR) for the restart of open-pit operations at the Mt. Carbine tungsten mine in Queensland.

The contract for the site near Cairns extends over 70 months, with the first 12-18 months to be completed on a rates and cost-plus basis that will establish a site-specific baseline cost for the project. Once completed, the companies will transition to a rise-and-run matrix of rates on a material-type basis that also hinges on fleet composition.

The scope of work includes all mine planning, scheduling and operations including moving waste, ore and low-grade stockpile material to the processing plant.

Golding said it will deploy a mixture of existing, hired and client-owned fleet for the project and will employ about 50 individuals from the local and North Queensland area.

“This contract is the culmination of a period whereby the parties have been working closely together under an early engagement contract,” Golding CEO Geoff Caton said.

“This has been a very positive experience for Golding and the team are now very excited to move to the next phase with EQR.”

Source: NRW Holdings