Mincor pins restart contractor

Mincor Resources has completed early works at its emerging Cassini nickel deposit...
29th May 2020
Resources Rising Stars

Mincor Resources has completed early works at its emerging Cassini nickel deposit, near Kambalda in Western Australia, and has appointed Kalgoorlie-based underground services and equipment hire group Pit N Portal to run its mining operations, pending a final investment decision later this year (reports MiningNews).

Pit N Portal, recently acquired by ASX-listed Emeco Holdings, will work at Cassini for five years and at Mincor's revived Northern Operations (the Durkin North and Long mines) for at least three years.

Pit N Portal's leadership team includes several management and personnel who have previously worked at Mincor's Kambalda nickel mines, and many of its workers will be locals.

Mincor said the contract terms were in line with March's definitive feasibility study.

"We selected Pit N Portal based on a wide range of criteria including safety, performance, contract cost, experience and capability, ability to meet our mobilisation timelines and the size and quality of their contract fleet," Mincor managing director David Southam said.

"Their equipment fleet suits our proposed style of mining and, as one of Australia's largest hard-rock underground mining equipment solutions providers, we will have access to a large range of equipment options and high-class maintenance and rebuild capacity - giving us significant operational and strategic flexibility, which is important when operating a number of underground mines.

"This includes having access to the Emeco operating system, which could add significant value to future operations, as well as having a contracting partner that is willing to embrace the very latest in mining technology and data management and usage, including the proposed use of underground EVs which we have already trialled."

He said project financing discussions were progressing with a short-list of global and domestic banks and resource specialist financiers.

Mincor has around A$50 million cash, and needs around $70 million for the restart. The payback period is expected to about 12 months.

Read more at https://www.miningnews.net/stocks-market-insight/news/1387804/mincor-pins-restart-contractor

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