Perth-based civil and mining contractor NRW Holdings subsidiary Golding Contractors will acquire the mining services contract, associated fleet and transfer of employees from HSE Mining at coal miner Stanmore Resources’ South Walker Creek mine site.
The transaction is at A$85-million less assumed employee liabilities of about A$15.3-million.
Golding will take over about 550 HSE personnel and the heavy mining equipment currently deployed at South Walker Creek, in Isaac region, Queensland.
The novated mining services contract is expected to generate revenue of about A$250-million a year and will expire in August 2025.
“NRW, through our Golding and Action Drill and Blast businesses, has had a long association with Stanmore and I look forward to our teams continuing to deliver industry-leading services,” said NRW MD and CEO Jules Pemberton.
HSE and Golding are currently working through the transition arrangements, with financial close expected by the end of July 2024.