Golding secures A$179m tungsten-mine contract

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Mt Carbine in north-west Queensland, Australia

NRW Holdings unit Golding Contractors has been confirmed as the mining contractor for EQ Resources’ restart of openpit operations at the Mt Carbine tungsten project in north-west Queensland.

EQ is looking at capex of circa-A$26 million to get the mine up and running, plus $7.8m for a gravity plant expansion.

The 70-month Golding contract has a value of $179m (US$117m), with the contractor up for mine planning, scheduling and operations, including moving waste, ore and low-grade stockpile material to the processing plant. It will work on a “rates and cost-plus basis” for the first 12-18 months to “establish a site-specific baseline cost”.

“After this period the parties intend to transition to a rise and run matrix of rates, on fleet composition and material type basis,” ASX-listed NRW said.

EQ and Golding have done some preliminary site work together under an early engagement contract.

The 100% owner of Mt Carbine, EQ has reported an openpit ore reserve of 5.93 million tonnes grading 0.28% tungsten trioxide (WO3) and low-grade stockpile reserves totalling 9.77Mt at 0.075% WO3.

The planned openpit is essentially a deepening by 95m of the current historical pit, EQ says, for circa-23.1Mt of rock extraction.

Golding’s mobile fleet will move about 4.9Mtpa of material to provide ore to the 408,000tpa plant.


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