Pentium secures Iluka Resources contract

Cataby project in WA. Image: Iluka Resources

Vysarn subsidiary Pentium Hydro has gained a goods and services contract with Iluka Resources at the Cataby mine in Western Australia.

The contract, which is valued at an estimated $1.8 million dollars, will see Pentium deliver drill dewatering and injection wells at the Cataby mine’s southern area development project.

Pentium plans to mobilise to the Cataby site in early February.

According to Pentium managing director Sheldon Burt, the company was delighted to be successful in winning the Iluka contract.

“The award of this work further strengthens the company’s strategy to become the premium dewatering service provider in Western Australia, specifically to Tier 1 mining clients,” Burt said.

“The mobilisation of this rig will be the seventh rig of the fleet committed to a drilling program since acquiring the assets and the company’s relisting on ASX in September 2019.”

Vysarn acquired drilling assets from Ausdrill in August last year. Since then, it has secured contracts with Fortescue Metals Group, Independence Group, AngloGold Ashanti and Roy Hill Iron Ore, which ordered a second hydro rig for its Pilbara mine from Pentium last week.

Pentium’s drilling and dewatering works at Cataby are expected to complete before the end of the year.

Iluka expects to produce an average of 200,000 tonnes of synthetic rutile, 50,000 tonnes of zircon and 30,000 tonnes of rutile annually from Cataby over its 13-year mine life. The mine opened in June last year.

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