Duratec wins A$45m Newmont contract in Papua New Guinea

Duratec Limited ( (AU:DUR) ) has shared an announcement.

Duratec’s Papua New Guinea subsidiary has secured a roughly A$45 million, 12‑month contract from Lihir Gold Limited, a Newmont subsidiary, to provide plug and abandonment services at the Lihir Operations, including work on Phase 1 of the Lihir Nearshore Soil Barrier Project. The project, which starts immediately, will draw on personnel from across Duratec, local subcontractors and its DXP Energy Solutions joint venture, marking a significant step in the group’s expansion in energy and resources services and deepening its relationship with Newmont in a new geography.

Management highlighted that the contract, awarded on standard commercial terms with potential additional scope, underscores Duratec’s strategy of growing alongside existing clients into markets where they operate. For investors, the win adds a sizeable near‑term revenue stream, strengthens the company’s foothold in Papua New Guinea and supports its positioning as a specialised service provider to major resource operators.

The most recent analyst rating on (AU:DUR) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Duratec Limited stock, see the AU:DUR Stock Forecast page.

More about Duratec Limited

Duratec Limited is a leading Australian contractor specialising in the assessment, protection, remediation and refurbishment of assets and infrastructure across sectors including defence, commercial buildings, infrastructure, mining, industrial, power and energy. Headquartered in Wangara, Western Australia, it operates from 18 locations nationwide, combining engineering expertise with in-house assessment technologies such as 3D capture, modelling and predictive analysis tools to deliver multi-disciplined project solutions.

Average Trading Volume: 463,411

Technical Sentiment Signal: Buy

Current Market Cap: A$626.6M

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