Golding begins work to bring CQ coal mine back from brink
GOLDING Contractors will soon begin drilling, blasting and hauling to bring the troubled Baralaba North coal project back from the brink.
The company, a wholly owned subsidiary of NRW Holdings, has made a deal to start preliminary work onthe project while negotiating with Wonbindi Coal Pty Ltd and Baralaba Coal Company Pty Ltd for a three-year mining contract estimated to be worth $350million.
The scope of the work includes mine planning, drilling, blasting, loading and hauling overburden. Coal will be exported out of Gladstone Ports Corporation.
"Our team is ready and looking forward to working with Wonbindi to recommence mining operations at Baralaba North Mine," Golding chief executive Geoff Caton said.
Former mine owners Cockatoo Coal appointed administrators in November, 2015, which led to placing Baralaba North into care and maintenance mode.
As a result, there were about 75 jobs losses.
The company restructured and rebranded itself as Baralaba Coal in 2016 and appointed a new CEO in January, who departed after four months in the job.
Its March quarterly report in 2017 said coal production at the project was set to resume around October.
But the company went into voluntary administration again in July 2017.
Golding Contractors had previously completed construction on the Dawson Hwy overpass, critical for mining at Baralaba late 2016.
Final contract negotiations are expected to be finalised within 35 days.
NRW bought Golding Contractors last year for $85million.