SRG Limited inks $150m umbrella agreement with Evolution Mining

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Leading complex services company SRG Limited announced that it has secured an umbrella agreement with Australian gold company Evolution Mining to extend the terms of its drill and blast operations at the Mount Rawdon, Edna May and Cowal mine sites.

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SRG also announced the signing of a new contract to provide drill and blast services at Evolution Mining’s Mt Carlton mine site, which is scheduled to commence in January 2016.

The company said that the woks under this three year plus two year agreement are expected to generate revenues of approximately $150 million across the five year period, increasing its work in hand by roughly $110 million.

Commenting on the new agreement, SRG Managing Director David Macgeorge said it would utilise assets from the company’s existing drill rig fleet and would require minimal additional capital purchases.

“This is a significant achievement for SRG and our mining team and one which further reinforces our strong working relationship with Evolution Mining,” he said in a statement.

“We are very pleased to be awarded this new agreement and contract extension and we look forward to working closely with the Evolution Mining team to deliver strong performance on all four mine sites.”

Evolution Mining is a leading, growth-focused Australian gold company which ranks as the second largest gold producer in the country. It owns and operates seven gold mines across Queensland, NSW and Western Australia.