NRW adds fresh momentum with $334 million in mining and infrastructure awards

Two Contract Wins Add $334 Million of Work

NRW Holdings Limited (ASX:NWH) has secured approximately $334 million of additional work across two businesses, extending its mining services role at Queensland’s Curragh Mine while adding a major Commonwealth infrastructure project in Canberra.

Golding Contractors, NRW’s wholly owned subsidiary, will continue its existing mining services contract with Coronado Global Resources at Curragh for another year from January 2027. The extension is valued at approximately $200 million and covers the mine near Blackwater, Queensland.

The announcement comes a day after FY26 revenue and earnings showed NRW entering FY27 with A$7.5 billion of secured work. The Curragh extension adds further duration to a long-running client relationship, but the filing does not disclose how the extension compares with the previous contract’s scope or economics.

Fredon Wins Canberra Mechanical and High Voltage Packages

NRW’s Fredon business has separately been awarded several packages by major contractor Lendlease for the National Security Office Precinct in Canberra. The work is valued at $134 million, comprising $101 million of mechanical works and $33 million of high voltage infrastructure.

Work is due to start in early 2027 and finish in late 2028. The completed precinct is expected to serve multiple Commonwealth entities, including the Office of National Intelligence and the Department of Foreign Affairs and Trade, with capacity for up to 5,000 workers plus hospitality and retail amenities.

Taken together, the awards broaden NRW’s near-term workload across resources and government-linked infrastructure. That is a favourable order-book signal on the face of the announcements, but the filings provide no contract margins, expected earnings contribution, production volumes, operating-cost changes or capital requirements. The key test will be how much of the headline value converts into revenue and cash once both projects begin.