29Metals Limited says it has renewed the underground mining services agreement with Byrnecut Australia for the Golden Grove mine, in Western Australia, for a further five years, commencing from October 1, 2022.
The renewed contract extends the long-standing relationship with Byrnecut at Golden Grove, with the existing contract entered in 2017, providing continuity of operations.
The renewed contract is on substantially the same terms as the existing contract and covers development and production in the Gossan Hill and Scuddles mines at Golden Grove.
Under the renewed contract, 29Metals has formalised a commitment to identify and evaluate opportunities to collaborate on sustainability and ESG matters, reflecting 29Metals’ commitment to performance in these two areas, it said.
Golden Grove is a copper, zinc and precious metals mining operation, with the first mining discovery in the area dating back to 1971. Mining operations commenced in 1989 with the development of the Scuddles underground mine, followed by the commencement of mining at the Gossan Hill underground mine in 1996 and the Gossan Hill open-pit mine in 2012. In 2020, the mining rate at the operation was 1.44 Mt.
29Metals Managing Director & CEO, Peter Albert (pictured third from the left, shaking hands with Byrnecut Executive Chairman, Steve Coughlan), said: “After assessing a number of options, including owner mining, we are delighted to renew the agreement with Byrnecut and extend our relationship at Golden Grove. Byrnecut is a leading mining contractor in Australia and globally, and has been a key business partner at Golden Grove both before and since the 29Metals IPO.
“There is a strong alignment between our two companies from an operations, performance, and values perspective. With the new contract, we are extending that alignment to include a commitment to collaborate on sustainability and ESG matters where 29Metals will benefit from Byrnecut’s reach and experience globally.”