The agreement builds upon SRG Global's existing five-year relationship with Evolution and the extends the terms of its drill and blast operations at the Cowal, Mt Rawdon and Mt Carlton operations.

Evolution is Australia's second largest ASX listed gold producer. The company operates five wholly owned gold mines located in Queensland, New South Wales and Western Australia and has an economic interest in the Ernest Henry copper gold mine in Queensland.

Works under this agreement are expected to generate total estimated revenues of approximately AUS$78 million (US$55 million) over the three-year term, and approximately AUS$115 million on the basis that the two-year option to extend is exercised.

The new agreement will utilise assets from SRG Global's existing fleet and will require minimal growth capital over the contract term.

SRG Global managing director, David Macgeorge said: "This term contract is a significant achievement for SRG Global and our mining services team. It reinforces our strong working relationship with Evolution and underscores the confidence tier one mining companies have in our abilities as a leading drill and blast contractor."