See our exclusive index of companies on the move:Explore Stocks
- On Site
- About Australian Cannabis Investing
- About Australian Resource Investing
- About Australian Tech Investing
- About Australia Investing
- Of Interest
- ASEAN-Australia-New Zealand Trade Agreement
- Association of Southeast Asian Nations (ASEAN)
- Australian FAQ on ASEAN
- Australia Government on Foreign Investments
GALENA MINING LTD. ("Galena" or the "Company") (ASX: G1A) announces that Abra Mining Pty Limited ("AMPL"), the joint-venture company for the Abra Base Metals Project ("Abra" or the "Project") has finalised significant contracts in relation to the development of the Abra lead-silver Project. Figure 1 shows Galena, Byrnecut and GRES executives inspecting the new Abra underground Jumbo supplied by Sandvik.
- Underground mining contract finalised with Byrnecut with mobilisation in the second half of September 2021
- Plant construction contract with GR Engineering Services Limited (ASX: GNG) in full implementation, with key long lead items ordered, FEED completed and the final detailed engineering at 15%
- Red Dust Holdings have commenced site bulk earthworks associated with aerodrome, TSF and plant and infrastructure pads
Managing Director, Tony James commented, "A major milestone has been achieved at Abra with the finalisation of the underground mining contract with Byrnecut and the implementation of the process plant EPC with GR Engineering Services. Both companies have been very strong supporters of the project over a long period of time and its very rewarding for everyone to see the work starting on the ground.
The Byrnecut mining contract is for 4 years, with the remainder of this year and the majority of next year focussed on gaining access to the orebody, 230m below surface. During this time the mine is effectively a "single heading" decline and the manning requirements for that period are far lower than when the mine reaches commercial ore production in 2023. The actual mining work is expected to commence in the coming weeks. Equipment and labour have been sourced and are ready for mobilisation in the second half of September.