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Bowman Awarded $600,000 in Mining Related Engineering Contracts
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Bowman Consulting Group Ltd. (NASDAQ: BWMN) has secured $600,000 in new mining-related engineering assignments in the Southwestern United States. These projects involve civil engineering and mine infrastructure surveying for eight sites developed by a long-term customer. The Company is leveraging over a decade of experience in mining services, which expanded in December 2021 through the acquisition of H2H Geoscience Engineering. CEO Gary Bowman expressed optimism for growth in mining revenues, attributing it to potential synergies with H2H. Bowman anticipates increased activity in aggregates mining linked to federally funded transportation infrastructure spending under the 2021 Infrastructure Investment and Jobs Act.
Positive
Secured $600,000 in new mining-related engineering contracts.
Continues to expand mining services, enhancing revenue potential.
Positive outlook on mining revenue growth due to infrastructure spending.
Negative
None.
RESTON, Va.--(BUSINESS WIRE)--
Bowman Consulting Group Ltd. (collectively with its subsidiaries, the “Company” or “Bowman”) (NASDAQ: BWMN) announced that the firm has been awarded $600,000 of new mining related engineering assignments in the Southwestern United States. In connection with the assignments, Bowman will be providing civil engineering and mine infrastructure surveying services for eight new sites being developed by one of the Company’s longstanding international mining customers. These projects leverage Bowman’s more than decade long experience providing mining operators with total site and infrastructure solutions from initial site exploration through reclamation. In December 2021, Bowman expanded its mining services business beyond copper to include aggregates and additional fill components through the acquisition of H2H Geoscience Engineering, PLLC, which provides mine consulting and geospatial capabilities for industrial minerals, cement and aggregate industries.
“These awards reinforce our commitment to growing our mining revenues through both organic and acquired sources,” said Gary Bowman, Chairman and CEO of Bowman. “Mining provides an opportunity for cross-selling, and we are optimistic about the synergies between our mining services and those added from H2H. I’m pleased to see the year start off with strong momentum in mining.”
Bowman has recently added enhanced mining services including construction quality assurance (CQA), process engineering, mine infrastructure engineering, capital project control services, construction management and plant commissioning, and terrestrial/mobile ALTA and topographical survey services. The Company expects to see meaningful increases in aggregates mining related activities in connection with federally funded transportation infrastructure spending authorized through the 2021 Infrastructure Investment and Jobs Act.
About Bowman Consulting Group Ltd. (Bowman): Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment. With approximately 1,700 employees in more than 70 offices in the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.
What new projects has Bowman Consulting Group secured?
Bowman Consulting Group has announced $600,000 in new mining-related engineering assignments in the Southwestern United States.
What services will Bowman provide for the new mining projects?
Bowman will provide civil engineering and mine infrastructure surveying services for eight new sites.
How does Bowman Consulting Group plan to grow its mining revenues?
The Company aims to grow its mining revenues through organic growth and synergies from its acquisition of H2H Geoscience Engineering.
What is the significance of the 2021 Infrastructure Investment and Jobs Act for Bowman?
Bowman expects meaningful increases in aggregates mining activities due to the federally funded transportation infrastructure spending authorized by the Act.
