Big boost for SRG as Evolution Mining extends drill and blast agreements

first_imgContractor SRG Global announce it has secured an Umbrella Agreement with Evolution Mining Ltd to extend the terms of its drill and blast operations at the Cowal, Mt Rawdon and Mt Carlton operations. Evolution is Australia’s second largest ASX listed gold producer. The company operates five wholly owned gold mines located in Queensland, New South Wales and Western Australia and has an economic interest in the Ernest Henry copper gold mine in Queensland.Works under this agreement are expected to generate revenues of approximately A$115 million over the five-year term (assuming the two-year option is exercised). The new agreement will utilise assets from SRG Global’s existing fleet and will require minimal growth capital over the contract term. SRG Global Managing Director, David Macgeorge said, “This term contract is a significant achievement for SRG Global and our mining services team. It reinforces our strong working relationship with Evolution and underscores the confidence tier one mining companies have in our abilities as a leading drill and blast contractor.” Evolution Mining said, “Evolution has developed a good working partnership with SRG Global and we are pleased to be continuing this relationship.”last_img read more