NRW Holdings (ASX:NWH) has received a Notice of Award for the Bulk Earthworks contract for the Iron Bridge Magnetite Project.
The project is a joint venture between Fortescue Metals Group subsidiary FMG Iron Bridge and Formosa Steel IB Pty Ltd.
The award remains subject to finalisation of a number of outstanding contractual items but in the meantime, NRW has been directed to commence mobilisation.
The Iron Bridge Magnetite Project is the development of a new magnetite mine and associated infrastructure with the contract value is around $70 million and is expected to have a duration of approximately 45 weeks.
Shares in NRW Holdings (ASX:NWH) are trading 3.45 per cent higher at $3.00.