PYBAR Mining Services, a subsidiary of Metarock Group, has executed a new mining services contract with Hong Kong-listed MMG for the Rosebery mine in Tasmania.
Rosebery is an underground polymetallic base metal mine operating continually for over 86 years, with operations commencing in 1936.
Zinc, copper and lead concentrates, as well as gold doré, are produced using mechanised underground mining methods.
The contract provides for the supply, delivery and application of fibrecrete and cement fill at the mine under a new three-year fixed term, and will commence in April 2023 with estimated contract revenues of $18 million per annum.
The task will create 25 employment opportunities across a range of roles within PYBAR and requires about $7 million of new capital to be deployed, which will be funded from existing equipment financing facilities.
Metarock managing director, Paul Green, said the long term contract was indicative of the new contract structure that would underpin the future growth of the PYBAR business.
“We are looking forward to PYBAR returning to Tasmania, working with our Tier 1 client, MMG, to deliver a very important project for the region,” he said.