SRG wins Saracen work

SRG Global has been awarded a five-year, A$70 million drill and blast contract by Saracen Mineral Holdings.
SRG wins Saracen work SRG wins Saracen work SRG wins Saracen work SRG wins Saracen work SRG wins Saracen work

Staff reporter

The contract scope includes the provision of specialist drill and blast services including production drilling, explosives supply and management as well as grade control drilling at the Thunderbox and Carosue Dam operations in Western Australia.

SRG is already working at Saracen's 50%-owned Super Pit in Kalgoorlie, having provided specialist geotechnical services for over 20 years.

 "We are extremely pleased to have secured this new, five-year term contract with Saracen who are a major player in the gold sector," SRG managing director David Macgeorge said.

"We are excited to partner with Saracen to deliver innovative solutions to drive both safety and operational performance.

"This contract further diversifies SRG Global's customer base and adds significantly to our long-term work in hand."

SRG is a construction, asset services and mining services company with over $1 billion in annual revenue.

The company has $737 million work in hand and has guided FY20 underlying EBITDA of $30-40 million.

SRG shares closed at 25c yesterday, valuing the company at $111 million.

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