Tag Archives: waterwell

Pentium Hydro wins drilling and waterwell construction contract at Tropicana gold mine

Vysarn’s wholly-owned subsidiary, Pentium Hydro, has confirmed another major mining contract, this time with the AngloGold Ashanti and Independence Group joint venture Tropicana gold mine in Western Australia.

Pentium, which was only acquired from Ausdrill last month, is to provide dual rotary drilling and waterwell construction services at the mine.

Earlier this month, Pentium announced a purchase order worth up to A$800,000 ($549,866) with Fortescue Metals Group at the Cloudbreak iron ore operation.

Under the contract, Pentium will drill and construct de-watering at various locations at the Tropicana mine site including the bore fields, tailings storage facility and open pit areas.

Pentium has commenced procurement of the long lead time materials with mobilisation of the drill rig and auxiliary plant to be completed by early October, Vysarn said. The scope of work is expected to commence shortly thereafter and be complete by mid December 2019.

Pentium Managing Director, Sheldon Burt, said: “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. We are delighted to be working for a company of AngloGold Ashanti’s standing.”

Tropicana is owned 70% by AngloGold (manager) and 30% by Independence Group. The open-pit operation poured first gold in September 2013.

Vysarn’s new waterwell drilling business wins FMG Cloudbreak work

Pentium Hydro is in the process of mobilising a drill rig and auxiliary plant to Fortescue Metals Group’s Chichester iron ore operations, in the Pilbara of Western Australia, as part of a purchase order that could see the Vysarn subsidiary pocket A$800,000 ($549,866).

Following the purchase order, Pentium has already started transporting the equipment to Newman, Western Australia, for final inspection. Following signoff of the equipment, it will then head to Cloudbreak with Pentium expecting to commence drilling, subject to a formal agreement being signed, by the end of September.

In addition to this latest contract win at Cloudbreak, part of the Chichester Hub operations which has an annual production capacity of 100 Mt/y, Pentium says the first of two scheduled drill rigs has arrived on site at BHP’s Olympic Dam mine in South Australia (pictured).

This delivery is part of a dry hire agreement signed between Pentium and Easternwell WA, which was previously announced on August 16. The second rig destined for Olympic Dam has been despatched from the company’s yard in Canning Vale, with the company expecting these units to begin operating and produce income during this month. The hire rates for this equipment, while on site, are (in aggregate) A$4,500/shift, with each rig able to operate for a maximum of two shifts per day.

This agreement provided for the equipment to be hired on site for a period of at least three months and no more than six months (unless the scope is reduced by BHP).

As Pentium Managing Director, Sheldon Burt, implied, this latest business is significant considering Vysarn only completed the acquisition of Pentium from Ausdrill at the end of last month.

“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,” he said.