Larvotto Resources has appointed PYBAR Mining Services (PYBAR) as underground development contractor for its Hillgrove antimony-gold project in New South Wales (NSW), Australia.
The contract was awarded after a competitive tender process, with PYBAR set to deliver approximately 20km of new underground development over four years, with an option to extend further.
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Larvotto said the binding agreement represents a major step in the resumption of underground mining activities at Hillgrove, which are set to commence in the fourth quarter of 2025.
Under the terms of the contract, PYBAR will undertake decline and lateral development, rehabilitation, ground support installation and haulage services across the Metz, Garibaldi and Clarks Gully underground areas.
The company will deliver a full-service development solution, supplying equipment, personnel and statutory supervision under its safety and health management system.
The Hillgrove project is projected to generate approximately 40,500oz of gold and around 14,000 tonnes (t) of antimony concentrate annually, yielding around 5,000t of antimony metal per year.
This output is expected to account for up to 7% of the world’s antimony supply.
The underground development contract enhances Larvotto’s ongoing efforts to upgrade its construction and processing plant, which is progressing under a separate EPCM agreement with MIQM.
Both contract awards come after Larvotto secured funding through a A$70m (A$45.61m) equity raise and a $105m senior secured bond issue.
Combined, these financings fully fund all the capital expenditure and working capital needs for the development of Hillgrove.
Larvotto Resources managing director Ron Heeks said: “We are delighted to formalise our partnership with PYBAR, a contractor with deep experience and a collaborative ethos that aligns with our values. This agreement positions Larvotto to deliver on our development schedule and bring Hillgrove into production as Australia’s next major antimony supplier in 2026.
“With the signing of this contract, Larvotto continues to build a high-calibre team of partners at Hillgrove, following the appointment of MACA-Interquip-Mintrex (MIQM) for the EPCM contract to upgrade the processing plant. The proposed works under both contracts are expected to be complementary, helping to ensure our timeline to first production remains on track.”
