Exploration and development company Develop has been awarded a 4-year ~A$400 million mining contract at Bellevue Gold’s Bellevue Gold Mine in Western Australia.
Under the terms of the agreement, Develop’s Underground Services division will undertake construction, development and production activities at the underground mine, with activities scheduled to commence in the June Quarter 2022.
“Our team is perfectly suited to the Bellevue project, with decades of underground development and production experience, particularly in WA gold projects. We have access to an extensive pool of specialists across the required disciplines, many of whom are unquestionably world-class, and we are well-advanced in securing the latest equipment,” said Develop Managing Director Bill Beament in an ASX Announcement.
Once fully operational, the Bellevue Gold Mine is expected to be one of the highest-grade, lowest-cost mines in Australia, with the first 5 years producing an average of over 200,000 ounces annually.
Bellevue Gold is fully funded into production with a $200 million underwritten and credit-approved loan secured to fund construction and development activities.
“Our business model has attracted extensive interest from industry people, we have strong track records of operational excellence on all levels and we are ready to deploy our skills and expertise. Bellevue is an exceptional gold asset with a great production outlook and low all-in sustaining costs in the heart of WA,” said Mr Beament.
“It is one of the largest contracts in the WA gold mining industry. It is also one of the most environmentally ambitious projects, with the aim of producing Australia’s first carbon-neutral gold. I have no doubt that applying the combined skills and experience of the Bellevue and Develop teams to this exceptional asset will ensure strong returns for all stakeholders.”
