Australian engineering firm Duratec (ASX:DUR) has secured $30 million worth of mining and industrial operations work contracts since mid-May.
The company says these include project awards with entities owned by Rio Tinto (ASX:RIO).
Under the first contract, which is valued at $19 million, Duratec will complete structural integrity remediation and life expansion work from Bins 3-5 at Robe River’s West Angelas Mine. This work will begin immediately and is due to be completed in the second half of FY25.
Additionally, Duratec will complete jetty structural integrity work on bays 10 to 11 at Dampier Salt’s Lake Macleod project. This contract is valued at $6.8 million and will also begin immediately, with completion expected in the first half of FY24.
Structural integrity projects consist of blast, protective coating, and the structural remediation of a client’s assets. This strongly aligns with Duratec’s remediation expertise and ‘proven track record’ in the delivery of similar packages through its mining and industrial segments.
The company says the $30 million in mining and industrial segment work since mid-May 2023, including these 2 ‘key’ project awards, demonstrates Duratec’s ability to strengthen its annuity-style contract awards with ‘key’ strategic clients, which remains a key focus and growth area of the company.
Commenting on the contracts, Duratec Managing Director Phil Harcourt says: “I am elated with the company’s efforts in converting tangible opportunities to our order book and with the ability of our company to present itself as the contractor of choice with our key clients.
“The Mining and Industrial segments currently represents 25% of our overall order book, and the outlook for this segment remains strong”
The Mining and Industrial segments currently represents 25% of our overall order book, and the outlook for this segment remains strong, which Duratec is well positioned to capitalise on in line with our business strategy.”
Duratec is an Australian contractor providing assessment, protection, remediation, and refurbishment services to a broad range of assets and infrastructure.
The company uses a range of in-house assessment technologies, including 3D capture and modelling technology with predictive analysis tools, to combine engineering expertise with project delivery expertise.
Write to Harry Mulholland at Mining.com.au
Images: Duratec Ltd