NRW Holdings (ASX:NWH) wins Iron Bridge contract

Company News

by Rachael Jones

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Last Updated: 19/02/2020 11:40 AM

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.