PYBAR awarded $149m underground services contract

Underground mining contractor PYBAR has been awarded a four year contract to provide services at the Eloise copper mine complex in Queensland.

Valued at $149m, the contract involves delivering the 3km underground link drive for the Jericho and Eloise decline which lies 125m below surface, plus 600m of development for stockpiles.

Owned by AIC Mines (ASX: AIC), the Eloise mine was commissioned in 1996 and since then has mined over 13.5mt of ore grading 2.8% copper and 0.8g/t gold to produce 350kt of copper and 180koz of gold in concentrate.

Current operations consist of an underground mine accessed via decline. The upper levels are extracted by longhole open stoping while the lower levels are extracted by sublevel caving.

The Eloise deposit has mineral resources of 5,704,000t containing 137,200t copper and 118,800oz gold, as of December 2022, while the Jericho deposit has mineral resources of 9,834,000t containing 180kt copper and 110,600oz gold as of January 2023.

PYBAR general manager James Glover commented on the contract.

“PYBAR has been working at AIC Mine’s Eloise copper mine since 2020 and we’re proud that this is our third contract at the Eloise complex and our second with AIC,” he said.

“This win is a testament to our strong operational performance, reliability and commitment to the safety of our workforce.

“We look forward to continuing our strong delivery for our client, AIC Mines.”

Additional equipment mobilisation for Eloise will begin later this month with work having begun on Jericho earlier in July.