Rio Tinto Awards A$167M Contract to NRW for Western Australia Mine Development

Rio Tinto Group (NYSE:RIO) is one of the most undervalued large cap stocks to buy according to analysts. On July 3, NRW Holdings’ subsidiary, called NRW Civil & Mining, secured an A$167 million (~ $109 million) contract from Rio Tinto. The contract is for work at the Brockman Syncline 1 mine development, which is located within the Brockman mine hub in the Pilbara region of Western Australia.

The scope of work for NRW includes significant civil construction. This includes earthworks, roadworks, and drainage specifically for the primary crusher, overland conveyor, and non-process infrastructure. Additionally, NRW will construct haul roads, access roads, and concrete structures. The project also involves drill and blast operations, as well as the supply and construction of a mechanically stabilized earth ROM (Run-of-Mine) wall, two precast concrete overpass tunnels, and in-situ concrete foundations for the primary crusher.

The contract is set to commence this July and is expected to require a peak workforce of 300+ personnel. The Brockman Syncline 1 project is located near other NRW construction sites, which include the Brockman 4 to Brockman 2 Haul Road contract and the recently completed Western Turner Northern Access Road.

Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources worldwide. NRW Holdings Limited provides diversified contract services to the resources and infrastructure sectors in Australia.

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Disclosure: None. This article is originally published at Insider Monkey.