Key Highlights

  • GR Engineering Services has executed a A$275 million EPC contract with Venturex Sulphur Springs, a Wholly Owned Subsidiary of Develop Global.
  • The contract covers the engineering, procurement and construction of the 1.5 million tonne per annum Yitirrti copper-silver-zinc processing project.
  • GR Engineering had previously been appointed preferred contractor, with early works and long-lead item procurement already underway.
  • The contract adds a major project to GR Engineering's minerals processing EPC portfolio across Australia's resources sector.

GR Engineering Services Limited (ASX:GNG) has formally executed a A$275 million engineering, procurement and construction contract for the 1.5 million tonne per annum Yitirrti Copper-Silver-Zinc Project in Western Australia, following its earlier appointment as preferred contractor. At 10:23 am on 17 August 2026, GR Engineering Services shares were trading at A$6.25, up 6.11%, or A$0.36, on the day.

A$275 Million EPC Agreement

The contract has been signed with Venturex Sulphur Springs Pty Ltd, a wholly owned subsidiary of Develop Global Limited (ASX: DVP), for the engineering, procurement and construction of the Yitirrti processing facility.

The project was formerly known as Sulphur Springs and is designed around a processing capacity of 1.5 million tonnes per annum. The Facility forms a central component of Develop Global's plans for the copper-silver-zinc development in Western Australia.

GR Engineering's contract value is A$275 million, establishing a substantial project commitment for the engineering company and formalising the commercial relationship that had previously been established through its preferred-contractor appointment.

From Preferred Contractor to Executed Contract

GR Engineering was appointed preferred contractor for Yitirrti on 10 June 2026. Since then, early works and the ordering of long-lead items had already commenced.

The progression from preferred contractor status to an executed EPC contract provides greater clarity around GR Engineering's role in the project. The company's responsibilities span engineering, procurement and construction, giving it involvement across the major phases required to deliver the processing facility.

The early commencement of works and long-lead procurement also means that some elements of the project were already progressing before the formal EPC agreement was announced.

Yitirrti Processing Capacity

The planned Yitirrti facility will have a nameplate capacity of 1.5 million tonnes per annum and is being developed to process ore from Develop Global's copper-silver-zinc project.

The project forms part of Develop's broader expansion strategy, with the company progressing construction and underground development at Yitirrti. For GR Engineering, the contract provides exposure to a large-scale minerals processing project involving multiple commodities.

The contract also follows GR Engineering's previous work with Develop at its Woodlawn operation, where it refurbished and upgraded the processing plant. Develop has reported that Woodlawn has reached steady-state throughput rates.

Position in Minerals Processing EPC

GR Engineering provides engineering, procurement and construction services across the resources sector. The Yitirrti contract adds to its involvement in minerals processing projects covering a range of commodities.

Managing Director Tony Patrizi said the project further enhances the company's position in minerals processing EPC work across Australia and highlighted the continuation of its relationship with the Develop team.

The repeat engagement with Develop is also relevant to the company's project history, given GR Engineering's earlier involvement at Woodlawn.

Project Timing and Early Works

Early works and procurement of long-lead items had commenced before the EPC contract was formally executed. This provides a degree of continuity between the earlier preferred-contractor phase and the full contract execution.

The broader Yitirrti development is targeting production in the June quarter of 2028, according to Develop Global's separate announcement. GR Engineering's role in delivering the processing plant places the company within a key component of the project's construction schedule.

The scale of the EPC contract also means execution will remain an important Factor in the company's project delivery programme as engineering, procurement and construction activities progress.

Conclusion

GR Engineering Services (ASX: GNG) has converted its preferred-contractor position at Yitirrti into a formal A$275 million EPC contract with Develop Global's wholly owned subsidiary Venturex Sulphur Springs. The agreement covers the engineering, procurement and construction of a 1.5 million tonne per annum copper-silver-zinc processing facility, with early works and long-lead procurement already underway. The project strengthens GR Engineering's order book exposure to minerals processing infrastructure and continues its working relationship with Develop following its earlier involvement at Woodlawn.