Develop Global has secured a contract worth A$46m ($30.4m) for the underground development of the Mt Marion lithium mine in Western Australia (WA).
Under the contract, Develop Global will establish and develop an exploration decline at the mine.
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The company will be responsible for the completion of surface facilities to support underground mining activities, installation of underground mine infrastructure, portal establishment, and excavation underground capital development and exploration drill platforms.
It will also obtain important geological and operational data for future mining activities.
Located 40km south-west of Kalgoorlie, the Mt Marion project is a joint venture between Mineral Resources and Ganfeng Lithium.
The 18-month contract is expected to commence in early 2024.
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By GlobalDataDevelop Global will also prepare the underground site for an extensive diamond drilling campaign.
Develop managing director Bill Beament said: “We have built a world-class underground mining team with immense experience in developing and operating underground operations, especially in WA. The strength of this team is shown by the outstanding results we are generating at the Bellevue gold mine, where the project is running on time and on budget.
“The Mt Marion contract is consistent with our stated strategy of securing two to three contracts within our mining services division. Our team is eager to make a significant contribution to the Mt Marion project by applying its extensive skills and experience to the underground development.”
Earlier this year, Develop Global entered a scheme implementation deed (SID) to acquire Essential Metals for around A$152.6m.
As per the agreed terms, shareholders of Australia-based Essential Metals will receive one new Develop Global share for every 6.18 shares held, implying around A$0.56 a share.
