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NRW secures $502m mining services contract from TEC Coal
Yahoo Finance· 2026-01-19 14:55
Group 1: Mining Services Agreement - NRW Holdings, through its subsidiary Golding Contractors, has secured a mining services agreement valued at approximately A$750 million ($502.6 million) with TEC Coal for operations at the Stanwell Meandu Mine in Australia [1] - The agreement spans a period of 5.5 years, beginning this month, and includes a six-month mobilization phase followed by a five-year operational phase [2][4] - The Meandu Mine has an annual production capacity of 7.6 million tonnes and is expected to supply coal until the year 2037 [2] Group 2: Operational Details - Golding Contractors will manage the entire mining operation, which includes the operation and maintenance of three fleets of heavy mining equipment, a dragline, and a processing plant supplied by TEC Coal [3][4] - The contract will provide employment for around 400 local residents [3][5] Group 3: Company Strategy and Future Outlook - NRW CEO Jules Pemberton stated that the award reflects Golding's excellent reputation for delivering safe and efficient contract mining services, aligning with the company's strategy of reducing capital intensity [4] - NRW is a provider of diversified contract services across various sectors in Australia, with operations extending to Canada and the US [5] - In July 2025, NRW announced a contract from Rio Tinto for the Brockman Syncline 1 mine project valued at approximately A$167 million, involving various construction tasks [6][7]
Coeur Mining (CDE) Recently Broke Out Above the 20-Day Moving Average
ZACKS· 2025-08-28 14:35
Technical Analysis - Coeur Mining (CDE) has reached an important support level and surpassed resistance at the 20-day moving average, indicating a short-term bullish trend [1] - The 20-day simple moving average is a popular tool among traders, providing insights into short-term price trends and trend reversals [1][2] Earnings Estimates - Positive earnings estimate revisions for CDE strengthen the bullish case, with no lowered estimates in the past two months and three raised estimates for the current fiscal year [3] - The consensus earnings estimate for CDE has also increased, suggesting potential for further gains [3] Stock Performance - CDE shares have increased by 42.5% over the past four weeks, indicating strong upward momentum [4] - The company currently holds a Zacks Rank 3 (Hold), suggesting the potential for continued stock price appreciation [4]