23/07/2019 - 15:32

Swick expands order book to $353m

23/07/2019 - 15:32

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Swick Mining Services has secured extensions with Northern Star Resources and Barrick Gold, as well being selected as a preferred tenderer by Silver Lake Resources.

Swick expands order book to $353m
In May, Swick said its order book was around $295 million.

Swick Mining Services has secured extensions with Northern Star Resources and Barrick Gold, as well being selected as a preferred tenderer by Silver Lake Resources.  

Swick was awarded a three-year contract extension at the Nevada Gold Mines project joint venture between Barrick Gold and Newmont Goldcorp, which is 61.5 per cent owned by Barrick, in the US.

The extension secures work for 10 rigs.

The contractor also announced it would also increase its scope at Northern Star Resources’ Jundee mine near Wiluna, expanding its fleet from nine to 14 full time underground diamond coring rigs.

Swick said Northern Star would become its largest client with the expansion at Jundee.

In addition, the company was also chosen as the preferred tender by Silver Lakes Resources to provide underground core drilling services at its Mount Monger operation near Kalgoorlie.

Swick did not disclose the monetary value of the contract extensions, but said its order book had now grown to $353 million.

In May, when it last updated the market about its order book, the contractor said its order book was around $295 million.

Swick managing director Kent Swick said the awards resulted from the company’s strategy of deploying rigs at high-quality projects and its established place in the US underground drilling market.

“We are delighted to be deepening our relationships with existing clients and, in the case if the new work with Silver Lake, returning to a project where we have extensive experience,” he said.

“It is particularly pleasing that our international strategy is yielding significant results, with a third of our total deployed underground diamond drilling rigs now operating outside of Australia.”

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