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- Swick Mining (SWK) has been awarded a five-year contract to provide drilling services at BHP’s Olympic Dam mine in South Australia
- The company has been working up to five rigs at Olympic Dam since 2017 and this new contract will see the company require an initial eight rigs
- Additionally, Swick has been awarded a five-year contract from Minas de Aguas Teñidas SAU (MATSA) at its copper operations in Spain
- Further, Swick’s Mineral Technology Business, Orexplore, has been awarded an infield commercial agreement with St Barbara
- Under the agreement, approximately 1500 metres of core will be scanned per month at the Gwalia Mine in Leonora, Western Australia over a six month period.
- Swick is up a healthy 22.9 per cent and shares are currently trading for 21.5 cents each
Swick Mining (SWK) has been awarded a five-year contract to provide drilling services at BHP’s Olympic Dam mine.
BHP’s Olympic Dam mine is located 560 kilometres of Adelaide in South Australia and is one of the world’s most significant copper, gold, silver and uranium deposits.
Swick has been working up to five rigs at Olympic Dam since 2017 and this new contract will see the company require an initial eight rigs with five of those to be added to the three currently on site.
Additionally, Swick has been awarded a five-year contract from Minas de Aguas Teñidas SAU (MATSA) at its copper operations in Spain with two rigs currently deployed.
“We are delighted to be awarded a long-term contract with BHP at Olympic Dam. Credit goes to our operational team who have delivered outstanding safety performance, and high quality and productive drilling that enabled Swick to secure this long-term, high volume work,” Managing Director Kent Swick said.
“In addition, securing a five-year agreement with a large copper miner MATSA in Spain adds to our ongoing work with Somincor in Portugal along the historic Iberian Pyrite Belt,” he added.
Further, Swick’s Mineral Technology Business, Orexplore, has been awarded an infield commercial agreement with St Barbara.
Under the agreement, approximately 1500 metres of core will be scanned per month at the Gwalia Mine in Leonora, Western Australia, over a six month period.
This agreement has a value of around $700,000 over the next six months and Swick expects to sign a formal contract in the upcoming weeks.
“In the mineral technology business, it is very exciting that we have taken a significant step forward with the award of Orexplore’s first infield commercial agreement,” Kent commented.
“We look forward to ensuring the value is extracted from this rich 3D data set and I am confident we can add significant long-term value to the Gwalia Mine and the wider brownfield market,” he added.
Swick is up a healthy 22.9 per cent and shares are trading for 21.5 cents each at 2:22 pm AEST.
