Tag: NRW

NRW Holdings has secured two new contracts from Rio Tinto, one of which will see it enter the renewable energy fold with an agreement to deliver a 34MW solar photovoltaic system at the Gudai Darri mine in the Pilbara region of WA. The contract, valued at $60 million, is part of Rio Tinto’s commitment to reduce the carbon footprint of its operations with a stated target to reach net zero emissions by 2050. The scope of work for the solar farm includes design, procurement, construction, testing and commissioning of all equipment including a 33 kV substation to be integrated into the overall Rio Tinto iron ore infrastructure, including remote control and monitoring via the Rio Tinto Iron Ore Remote Operation Centre....

MINING services company NRW has acquired 100pc of BGC Contracting for an equity value of $116.4m and implied enterprise value (EV) of $310m. Essentially, the implied EV is an alternative measure of a company’s value and covers BGC’s market cap including short and long-term debt as well as any cash on the balance sheet. NRW’s chief executive and managing director Jules Pemberton said the company is extremely pleased with the acquisition as it aligns with goals to pursue diverse revenue opportunities. “BGC Contracting has a well-recognised and proud history build around the strong foundations set by the late Len Buckeridge,” Mr Pemberton said. “With an excellent track record supported by a diversified earnings base, extensive fleet and a long history...

NRW said it had strong order book growth prospects.  Image: NRW Holdings. BY CAMERON DRUMMOND MINING services contractor NRW Holdings has decided against an interim dividend, despite the business continuing to “meet or exceed our expectations”, securing contracts and contract extensions across all its businesses. The company almost doubled its yearly revenue to $345.3 million and increased profit from $11.9m to $15.3m. Last year, the company acquired east coast mining services business Golding for $85m, funded by a capital raising and debt facility. Because of this, the company decided to retain its cash balances and not pay an interim dividend to ensure its debt was fully serviced. It has not paid out to shareholders since a fully franked interim dividend...