Pentium secures Fortescue contract, mobilises at Olympic Dam

Vysarn subsidiary Pentium Hydro has won a $800,000 purchase order for hydrogeological borefield and construction services from Fortescue Metals Group subsidiary, Chichester Metals.

The works will take place at the Cloudbreak iron ore site in the Pilbara region of Western Australia.

Pentium has mobilised the drill rig and an auxiliary plant, which will be used to service the purchase order.

The drilling services are expected to commence by the end of September after final inspection of equipment in Newman, Western Australia.

Pentium’s first rig has arrived on-site at BHP’s Olympic Dam mine in South Australia, with another currently being despatched from its Canning Vale yard.

All three rigs are expected to operate and be income-producing during September.

Pentium managing director Sheldon Burt said to have three rigs out of the yard was a positive start for the company.

“We are pleased with the quality of the assets purchased and are confident of our ability to become a major provider of waterwell drilling services to the resource, agriculture and infrastructure industries,” Burt said.

Pentium acquired waterwell drilling assets from Ausdrill Northwest for $16 million in April this year.

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