Under the deal, which is hoped to be completed by the end of July, Golding will sell Boggabri 38 major mobile mining assets.
The equipment will be sold for about A$81 million of which roughly $64 million will pay down asset financing debt.
Golding will continue to perform maintenance services on site across those 38 pieces of equipment, along with another 50 pieces of major mining equipment, engaging a workforce of more than 150 personnel on site.
NRW CEO Jules Pemberton said the transaction would reduce debt and increase return on capital employed.
"We look forward to continuing to support Boggabri to ensure we are best placed to continue to provide our services beyond the current contract completion date of December 2022," he said.
Boggabri's exercise of the option will reduce NRW's pre-tax earnings by about $1.8 million per annum.
Shares in NRW jumped 12% yesterday to $1.73, about a two-month high. The company's market capitalisation is currently just under $790 million.
