Duratec expands mining backlog

ASX-listed Duratec says A$40 million of mining and industrial (M&I) work secured in January, including $34m of contracts with Rio Tinto in Western Australia, has maintained the growth momentum in its M&I business.

The specialised asset and infrastructure maintenance company, which has significant exposure to the defence, urban, water and transport infrastructure, and resources markets, says M&I now accounts for nearly one-quarter of its $549m order book.

Duratec had $586m of tenders and a “pipeline of tangible opportunities worth $1.89 billion” in front of it at the end of last month, management said.

The new work with Rio Tinto unit Hamersley Iron in the Pilbara region of WA included structural integrity remediation at Tom Price ($18m) and East Intercourse Island ($16m). Duratec says the annuity contracts are a key plank in its plan to strengthen its revenue stream and overall M&I capability.

“M&I now represents 23% of the company’s overall orderbook, which will ensure it is positioned strongly for the current financial year and beyond – in line with the business strategy,” managing director Phil Harcourt said.


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