Gindalbie Metals is expected to award a USD 120 million construction contract for its Karara iron ore project to NRW Holdings, a specialist civil and mining contractor. Trading in NRW shares was halted recently due to the announcement being made in conjunction with reporting on a first half net profit of USD 15 million. The contract covers the staged earthworks and concrete construction contract on the Karara project. It is understood NRW will also construct site drains a retention pond and an all-weather airstrip. The contract will run for 14 months and involve 400-500 NRW staff who will work on-site. Gindalbie is expected to update the market on development of the Karara project 500km northeast of Perth. The project is a joint venture between the Australian miner and China iron ore and steel player Ansteel.
