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Shares of Australia-based engineering and mining services company NRW Holdings (ASX:NWH) jumped sharply on Tuesday after the company announced it had secured a significant new contract from mining giant Rio Tinto (ASX:RIO), adding momentum to a growing pipeline of recent project awards. The positive news sent investor sentiment higher, with NRW Holdings’ share price rising nearly 7% to around A$5.52 during early trading.
NRW Holdings revealed it has been awarded a bulk earthworks contract valued at approximately A$175 million for Rio Tinto’s West Angelas Sustaining Project in Western Australia. The large-scale mining services contract will involve critical infrastructure works to support five new satellite mining pits. Scope of work includes haul road construction, development of a concrete overpass arch, and the delivery of associated mining infrastructure essential for ongoing operations at the site.
According to the company, work on the West Angelas project is scheduled to commence in early 2026 and continue through 2027. At peak activity, the project is expected to employ around 220 workers, highlighting the scale of the contract and its contribution to regional employment. Importantly, NRW stated that no material capital expenditure is required for this project, which may help preserve cash flow and support margins.
In addition to the Rio Tinto contract, NRW Holdings announced further contract wins that strengthen its order book. Its wholly owned subsidiary, NRW Contracting, has been selected by Main Roads Western Australia for a construct-only contract related to the reconstruction and realignment of Toodyay Road. The initial value of this civil infrastructure project is estimated at A$46 million.
NRW also confirmed it has secured another contract worth approximately A$49 million through a 50:50 joint venture for the Dampier Link Bridge project for Pilbara Ports. Collectively, these new contracts underscore NRW Holdings’ strong position in the Australian mining services and civil construction sectors, reinforcing its reputation as a key contractor for major infrastructure and resources projects.
