Iron ore miner Gindalbie Metals
(ASX:GBG) is likely to award a $120 million construction contract for its Karara iron ore project to NRW Holdings today.
NRW, a civil and mining contractor, went into a trading halt on Friday pending the announcement.
The Australian newspaper reports that the 14-month contract covers the staged earthworks and concrete construction contract on the Karara project, 500km northeast of Perth.
It is understood NRW will also construct site drains, a retention pond and an airstrip as part of the deal.
Gindalbie Metals posted a profit of $26.22 million for the 12 months to June 30, 2009.
