Vysarn subsidiary Pentium Hydro has struck a major services contract at the Tropicana gold mine joint venture (JV) in Western Australia for an undisclosed amount.
The contract will see Pentium deliver dual rotary drilling and waterwell construction services to the AngloGold Ashanti (70 per cent) and Independence Group-owned (30 per cent) project.
Tropicana was the fifth largest producing gold mine in Australia during the 2018–2019 financial year.
Pentium managing director Sheldon Burt said the team was “delighted to be working for a company of AngloGold Ashanti’s standing.”
The contractor will drill and construct de-watering at various locations at the Tropicana mine sites, including the bore fields, tailings storage facility and open pit areas.
Pentium has also commenced procurement of the long lead time materials, with the mobilisation of the drill rig and auxiliary plant to be completed by early October.
The scope of work is expected to commence shortly thereafter and be complete by mid-December 2019.
“This is the fourth rig mobilised by the company in less than a month since acquiring the hydrogeological drilling assets from Ausdrill, and confirms the board’s confidence in the underlying demand for the company’s assets and services,” Burt said.
Prior to Tropicana, Pentium has mobilised its drill rigs at Fortescue Metals Group’s Cloudbreak iron ore site in the Pilbara, Western Australia, and BHP’s Olympic Dam mine in South Australia.
Vysarn acquired Ausdrill Northwest’s waterwell drilling assets for $16 million, as Ausdrill moved towards a new strategic direction under the Perenti Group branding.