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26/02/2024
Mining News

Mt Carbine mine sees new contract

Golding Contractors has signed a contract with EQ Resources (EQR) for the restart of the open pit mining operations at the Mt Carbine tungsten project.

EQR is the 100 per cent owner of the Mt Carbine tungsten mine, which is located 120 kilometres north-west of Cairns in far north Queensland. The committed contract period is for 70 months and represents an estimated contract value of $179 million.

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The parties have agreed to the first 12-18 months to be completed on a rates and cost-plus basis to establish a site-specific baseline cost, thereafter, the parties intend to transition to rise and run matrix rates, on fleet composition and material type basis.

The estimated material movement over the contract period includes approximately 16.3 million tonnes (Mt) mine waste material, approximately 6.0Mt mined ore, and approximately 2.9Mt low-grade stockpile material.

The scope of the project includes all mine planning, scheduling and operations including moving waste, ore, and low-grade stockpile material to the processing plant.

Golding chief executive officer Geoff Caton said he is pleased that the Golding team have now executed the contract with EQR.

“This contract is the culmination of a period whereby the parties have been working closely together under an early engagement contract. This has been a very positive experience for Golding and the team are now very excited to move to the next phase with EQR,” Caton said.

EQR chief executive officer Kevin MacNeill said he is happy with the relationship the company has developed with Golding over the past 12 months.

“It’s been a collaborative process and has been a positive engagement throughout. It feels we’ve gained a long-term partner rather than just a contractor,” MacNeill said.

“Their level of professionalism, proactive approach to problem solving and willingness to work with the EQR team has really set them apart.”

 

Source: Australian Mining

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