NRW Holdings's Eneabba Miss Not So Significant -- Market Talk

Dow Jones
06/09
 

2236 GMT - NRW Holdings' failure to win a tender for work on Iluka Resources' Eneabba rare-earths refinery is disappointing, but not too significant in the scheme of things, says Jefferies. Rival contractor Civmec secured the contract. Jefferies estimates the contract is worth A$150 million. Analyst John Campbell said the Eneabba work could have partly offset the revenue hit to NRW's Minerals, Energy & Technologies business, or METS, from an existing contract with Northern Star Resources for the Fimiston project in Western Australia. "We estimate Fimiston will deliver A$285 million revenue in FY26 and A$118 million in FY27," Jefferies says. "We currently assume 8% FY27 revenue decline for METS which implicitly assumed some Eneabba work." It retains a "hold" call on NRW. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

June 08, 2026 18:36 ET (22:36 GMT)

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