Capricorn Metals (ASX:CMM) extended the Western Australia Karlawinda gold project mining contract with Maca for a further five-year term, with an option for the firm to further extend the contract beyond the initial term of five years, according to a Tuesday Australian bourse filing.
Maca, a unit of global mining services provider Thiess, mobilized the expanded mining fleet, and the mining volumes have increased in recent months to complete the early stripping required to service the enduring ore feed rates for the Karlawinda expansion project, which is targeting 150,000 ounces per annum in gold production.
Maca was also selected as the preferred mining contractor for the Mt. Gibson gold project, also in Western Australia, the filing said.
Capricorn Metals' shares were down 1% in recent Tuesday trade.
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