GR Engineering Services has been awarded a contract variation by Greenstone Resources, a subsidiary of Vault Minerals, for the stage 2 upgrade of the King of the Hills operation in Western Australia.
Situated approximately 900km northeast of Perth and 25km north of Leonora in the Goldfields region, the King of the Hills site is undergoing a multi-stage upgrade. Stage 2 will build on the progress of stage 1, which is already underway.
“We are pleased to continue working with Vault at their King of the Hills processing facility,” managing director Tony Patrizi said.
“We see the award of this additional stage of works as a strong endorsement of GR Engineering’s performance in the delivery of the work that has been performed to date.”
The variation is valued at $79 million including provisional sums, increasing the total contract value for the project to $155 million.
The scope includes the design, procurement, construction, installation and commissioning of the processing plant upgrade.
Once complete, the stage 2 upgrade will expand the plant’s annual wet processing capacity to 7.5 million tonnes. Work is set to commence immediately.
Earlier this year, GR Engineering saw a 45.2 per cent rise in revenue for the first half of the 2024–25 financial year (FY25), bringing in $272.1 million over the six-month period.
The company also lifted its earnings before interest, depreciation and amortisation (EBITDA) by 52.6 per cent to $34.5 million.
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