North American Construction announces regional services contract

North American Construction (NOA) Group announced the award of an extended and amended regional services contract by a major producer in the Canadian oil sands region and an outlook for the full year of 2025 along with updated estimates for the fourth quarter of 2024. The extended and amended contract contemplates the provision of services across various mine sites operated by the producer. The amendment is effective January 1, 2025 with the expiry date extended to January 31, 2029 from January 31, 2027. The agreement includes committed spend of $500 million spread over the term which is primarily related to heavy equipment rentals but also includes bulk unit rate earthwork scopes. These committed volumes are estimated to represent approximately one-third of total work expected to be performed across the various mine sites including overburden removal, reclamation, civil construction and other heavy equipment scopes.