North American Construction Group Ltd. Announces $2.0 Billion, Five-Year Contract in Queensland, Australia

Core Points - North American Construction Group Ltd. (NACG) has secured an amended and extended five-year contract with a leading coal producer in Queensland, Australia, marking the largest contract in the company's history [1][2] - The contract has a total backlog value of approximately $2.0 billion, which represents an $800 million increase from the original contract [2] - The total contractual backlog for NACG has reached $4.0 billion as of March 31, 2025, surpassing the previous record of $3.5 billion reported on December 31, 2024 [3] Company Overview - NACG is one of the largest providers of heavy construction and mining services in Australia and Canada, with over 70 years of experience in the mining, resource, and infrastructure construction markets [6] - The MacKellar Group, a wholly owned subsidiary of NACG since 2023, specializes in heavy earthmoving equipment solutions and has a strong reputation for performance and reliability in Australia [5] Contract Details - The extended contract will expire on April 30, 2030, and does not include growth capital, with backlog values based on the existing run-rate of the mine [2] - The contract includes risk and reward mechanisms that align NACG with the coal producer to ensure effective operations [2] - The Australian operations now account for $3.0 billion of the total backlog, providing revenue visibility through 2029 at current levels [3] Leadership Statements - Joe Lambert, President and CEO of NACG, emphasized that signing the largest contract in the company's history reflects the successful partnerships and execution capabilities [4] - Barry Palmer, COO of NACG, highlighted the contract as a demonstration of the productive relationship with the customer since 2022 [4]