NRW Holdings’ shares surged 7% after the Australian engineering firm secured a A$175 million earthworks contract from Rio Tinto. The deal involves infrastructure development for Rio’s West Angelas mine in Western Australia, including haul roads and a concrete overpass.

The project, set to begin in early 2026, will run through 2027 and employ up to 220 workers at its peak. It adds to NRW’s growing portfolio of civil and mining contracts, reinforcing its position in the resource services sector amid sustained demand for mining infrastructure.

NRW also won separate contracts valued at A$46 million and A$49 million for road reconstruction and a bridge project. Analysts view these wins as signs of steady activity in Australia’s resources and infrastructure markets, supporting near-term earnings visibility for services firms like NRW.

Investors are watching how efficiently NRW scales operations without major capital outlays, a key factor in maintaining margins during expansion phases.