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Develop (ASX:DVP) and Bellevue Gold (ASX:BGL) sign gold mining contract worth $400m

ASX News, Mining
ASX:DVP      MCAP $570.2M
14 April 2022 09:27 (AEST)
Develop Global (ASX:DVP) - Managing Director, Bill Beament

Source: Bill Beament/LinkedIn

Develop Global (DVP) has been awarded the mining contract valued at $400 million at Bellevue Gold (BGL) Bellevue gold mine in Western Australia.

The contract covers a period of almost four years and provides for Develop’s underground services division to undertake construction, development and production activities at the underground mine. Commencement is planned for June.

Develop has appointed Jordan Hall as Project Manager for the Bellevue contract. Hall spent 19 years working for mining contractor Byrnecut, where he was employed predominantly in senior management roles at major WA projects such as the Jundee gold mine and Golden Grove base metals project.

In addition, Develop has recently recruited a significant number of underground personnel and secured key equipment. This is to ensure that Develop has ready access to a deep pool of underground mining specialists and the latest machinery for use at Bellevue.

The companies believe this contract to be an enormous opportunity as it includes is an exceptional gold asset with a great production outlook and low all-in sustaining costs.

The Bellevue gold mine is about 400km north of Kalgoorlie within a high-grade gold and nickel district on the Wiluna-Norseman gold belt.

Develop’s Managing Director, Bill Beament, said: “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.”

The Bellevue contract will be conducted in parallel with Develop’s exploration and development activities at its Woodlawn zinc-copper project in New South Wales.

Develop Global traded at $3.22 per share before market open, while Bellevue Gold traded at 99 cents.

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