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Ausdrill Notes Regarding Barminco Securing $100m Additional Work for Hindustan Zinc

07 Feb 2019  |  09:43:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Barminco Secures $100M Additional Work for Hindustan Zinc

Ausdrill announced that its acquired subsidiary, hard-rock underground miner Barminco, has been awarded an underground mining services contract at the Rampura Agucha Mine in India from Hindustan Zinc (HZL) worth $100m. The new underground mining services contract is for a three and a half year term, subject to review and mutual agreement of rates after the first year. The scope of work includes the extension of development works that were being provided under a completed contract, plus the addition of production work in the Barminco-developed area of the mine. Under the contract, HZL will provide capital equipment and consumables.

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