Develop has kicked off underground work at Bellevue Gold’s Bellevue Mine in Western Australia.
Under the four-year contract, valued at about $400 million, Develop’s Underground Services division will undertake construction, development and production activities at the site.
Develop managing director Bill Beament said the company had established a world-class team of highly experienced underground mining specialists.
“Our team includes leading managers in their respective areas and an enviable group of underground mining and maintenance personnel, backed up by the latest mobile equipment,” he said.
“Our people, combined with the outstanding management team at Bellevue, will ensure we maximise the huge opportunity offered by the high-grade Bellevue orebody”.
Meanwhile, Develop has also entered into a letter of intent to acquire Premium Mining & Civil and Premium Mining Personnel, for $7.46 million less net debt, to be satisfied by $300,000 in cash and the balance in Develop shares.
The Premium Group is a well-established provider of specialist mining personnel and equipment to the underground mining industry. The acquisition will bolster Develop’s capabilities in providing underground expertise and equipment, both of which are in extremely high demand and will play critical roles in helping Develop achieve its goals as a mine owner/developer and mining services business partner.
The moves come in the wake of the miner recently acquiring the Woodlawn zinc-copper mine in New South Wales.