Barminco Limited
Barminco Limited
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Australian hard-rock underground mining contractor Barminco has made its entry into the New South Wales mining industry for the first time with the award of an eight-month decline development contract by mid-tier miner Evolution Mining at its Cowal gold operation 350km west of Sydney.
The Perenti Group company has also been engaged by Evolution to participate in early contractor involvement processes as part of its underground feasibility study for the world-class openpit mine.
Leading Australian hard-rock underground mining contractor Barminco has been awarded an 18-month initial extension of its development and production contract at MMG’s Dugald River zinc mine in Cloncurry, Qld. The extension will be work about $A140M, with a further two one-year extensions.
Barminco has been operating at Dugald River since its commencement in 2012, and its relationship with the international base metals miner goes back to 2001 at the Rosebery mine in Tasmania.
Western Australia-based diversified mining services company Perenti’s subsidiary Barminco has secured a $A200M, 5-years development/production contract at Western Areas’ Odysseus Nickel Mine, within the Cosmos Nickel Operation, 30km N of Leinster in WA.
The contract follows earlier rehabilitation works by Barminco at the mine. Western Areas acquired the Cosmos operations in Oct 2015 and began redevelopment of the Odysseus mine in Jan 2019, the company’s 3rd nickel mine in WA.
Australian-based hard-rock underground miner Barminco is making its breakthrough into the Canadian market, receiving a letter of intent to provide underground contract mining services at Barrick’s Hemlo gold mine in the Marathon mining district of NW Ontario.
The 3-year contract, worth about $A200M, commences in April covering mine development, production and haulage utilising Barrick’s equipment fleet.
West Australian underground mining contractor Barminco expects to commence mining next month after the confirmation of its contract worth about $A200M at Panoramic Resources’ Savannah nickel-copper-cobalt project.
The award of the 3-year contract implements Panoramic’s switch from owner-mining at the struggling East Kimberley mine.
Barminco, a member of the diversified mining services Perenti Group, will be responsible for mine development, production and haulage.
Australian miner Panoramic has named underground specialist Barminco as preferred contractor to implement its switch from owner-mining at the troubled Savannah nickel project in WA’s East Kimberley region.
While contract terms are being finalised, Barminco is preparing a detailed mobilisation plan to enable the transition by end-March.
The decision follows a tender process with several leading contractors.
The addition of an $US85M equity component to its project funding package has enabled Cupric Canyon to advance construction of its Khoemacau copper-silver project in Botswana.
Closing of the funding package with Global Natural Resource Investments ($15M) and Resource Capital Fund VII ($70M) lifts total available funding to $650M.
Cupric Canyon has awarded a 5-year underground mining services contract worth about $A800M to hard-rock underground specialist Barminco on the Zone 5 orebody at its Khoemacau copper-silver mine in Botswana.
Barminco is expected to start site work in Dec, subject to Cupric’s closing of project financing, on mine development, underground infrastructure development, diamond drilling and mine production at an initial 3.6Mtpa copper ore.
The integration of underground contractor Barminco is expected to deliver $A11M in synergies for Australian mining services company Ausdrill in the year to June 2020.
The $271.5M acquisition has already delivered major contract wins worth over $200M at the Rosemont gold project in WA and Rampura Agucha zinc-lead mine in India.
Hindustan Zinc has awarded Barminco a 3.5-year extension of its current underground mining services contract at the Rampura Agucha zinc and lead mine in Rajasthan, India. The contract will be worth about $A100M, subject to review and a mutual agreement on rates after Year 1.
Barminco has operated the world’s largest zinc mine for the Vedanta group company since late 2016.