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October 23, 2020

NACG announces gold mine construction contract in Canada

Canadian heavy construction and mining services provider North American Construction Group (NACG) has announced the award of a major earthworks construction contract at a gold mining project in Northern Ontario.

Canadian heavy construction and mining services provider North American Construction Group (NACG) has announced the award of a major earthworks construction contract at a gold mining project in Northern Ontario.

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As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
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The contract was awarded to a newly formed joint venture (JV) which is equally owned and operated by North American Construction Group and Nuna Group of Companies.

The contract award of this two-year project, which is valued at about $250m, reflects the trust and expertise gained by Nuna in its 27-year service.

North American Construction Joe Lambert said: “We are pleased and proud of the combined NACG & Nuna team for achieving such a significant milestone in our economic growth plans.

“This record award demonstrates the revenue synergies and opportunities for growth and diversification that are possible through our ownership interest in Nuna.”

According to NACG, the work scope will start during the construction phase of the gold mine and is anticipated to start during this quarter.

NACG noted that peak volumes will be achieved in the third quarter of next year and be completed in 2022.

Nuna Group of Companies president and chief operating officer Miles Safranovich said: “The award of this project, a result of a strong and integrated effort with NACG, further solidifies our strategy of taking Nuna’s unique brand of remote project development and sustained Indigenous engagement to major clients in eastern Canada.”

Nuna and the JV have partnered with local parties to participate directly in the project benefits, as part of the contract.

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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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