North American Development Group Ltd (NACG) has introduced that its wholly-owned subsidiary, the MacKellar Group, has been awarded an amended and prolonged five-year contract by an present shopper, a number one coal producer within the state of Queensland, Australia.
The prolonged mine providers contract has an expiry date of April 30, 2030, gives whole backlog of roughly C$2 billion ($1.5 billion) and is the most important contract signed within the firm’s historical past.
The extension leads to an C$800 million improve to backlog in relation to the unique contract. The amendments introduce sure danger and reward mechanisms that contractually align NACG with the producer to persistently function successfully, NACG says. The contract doesn’t ponder progress capital with backlog values usually based mostly on the present run-rate of the mine, it added.
NACG acquired MacKellar in July 2023 for C$395 million.
This incremental worth leads to whole contractual backlog for the corporate of C$4 billion as of March 31, 2025, on a proforma foundation, in contrast with the C$3.2 billion reported within the March quarter 2025 outcomes. This stage of backlog units one other firm report, surpassing the earlier report of C$3.5 billion reported on December 31, 2024.
“Signing the most important contract in our historical past is a testomony to the constant execution and trusted partnerships we’ve constructed,” Joe Lambert, President and CEO of NACG, mentioned. “With record-high backlog, together with over C$3 billion from Australia alone, we have now distinctive income visibility by way of the last decade and a rock-solid basis for long-term progress.”
