Brierty Limited (ASX: BYL) share should rise after being awarded a mining services contract valued at $300 million over four and a half years from Rio Tinto (ASX:RIO) at the Western Turner Syncline Stage 2 Project in the Pilbara of Western Australia.
Design and planning works will commence immediately with mobilisation from late May this year.
Brierty has also signed an agreement with Aboriginal partners the Ngarluma & Yindjibarndi Foundation Ltd, Karlayura Construction Services Pty Ltd and Eastern Guruma Pty Ltd, to work together with Brierty to deliver on the contract.
Indigenous engagement and employment is a core part of Brierty's vision.
With the mining portion of Brierty's works at Karara complete, the Rio Tinto contract provides a source of long-term revenue in addition to other long-term contracts, such as the Zuccoli development in the Northern Territory.
The contract is the fifth won by Brierty from Rio Tinto since 2012, with previous works including projects in the Wickham area, West Angelas and Brockman.
Brierty is presently capitalised at $40 million.
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