Develop wins A$200m underground contract at OceanaGold’s Waihi North
Australian mining services and development company Develop Global has secured a A$200-million underground mine development contract at OceanaGold’s Waihi North gold project, in New Zealand’s North Island.
The five-year contract will see Develop establish key access tunnels for the Waihi North Project, which hosts a mineral resource of about 1.2-million ounces of gold. Work is scheduled to commence in the first half of 2026, following a mobilisation phase that will focus on building a local workforce and deploying Develop’s in-house underground mining specialists.
Develop MD Bill Beament said the award highlighted the strength of the company’s Mining Services division and its depth of underground expertise.
“This contract reflects the strength and depth of our Mining Services division, which includes some of the most experienced underground mining specialists,” Beament said.
He added that Develop was pleased to be partnering with a major international miner. “We are delighted to be working with such a highly regarded multinational mining house as OceanaGold and we look forward to combining the skills and experience of our people with a strong local workforce.”
OceanaGold, which is listed on the TSX, is a gold and copper producer with a market capitalisation of about C$8.8-billion and operates four mines globally.
The contract adds further long-dated earnings visibility to Develop’s services business and strengthens its presence in the New Zealand underground mining market, as OceanaGold advances development of its next growth project at Waihi.
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