HOCHTIEF : PYBAR to deliver underground services for Jericho Copper Mine

MEDIA RELEASE 15 July 2024

PYBAR to deliver underground services for Jericho Copper Mine

Leading underground mining contractor PYBAR has been awarded a four-year contract (with one- year extension option) by AIC Mines to provide underground development services at the Eloise Copper Mine Complex in north west Queensland, Australia. The Eloise complex includes the existing Eloise Mine and Jericho deposits.

With revenue of $149 million, the contract scope involves delivering the 3km underground link drive for Jericho from the Eloise decline, which is 125m below surface, as well as 600m of development for stockpiles.

PYBAR General Manager James Glover said: "PYBAR has been working at AIC Mines' Eloise Copper Mine since 2020 and we're proud that this is our third contract at the Eloise Complex, and our second with AIC.

"This win is testament to our strong operational performance, reliability, and commitment to the safety of our workforce. We look forward to continuing our strong delivery for our client, AIC Mines."

Thiess Group Chair & CEO Michael Wright said: "We congratulate PYBAR on this contract win, their first since joining the Thiess group of companies on 31 May 2024.

"This underground mining contract is a further example of the Thiess Group's progress in our strategy to diversify our services and commodities portfolio. We really look forward to supporting PYBAR with their growth ambitions across Australia and beyond."

Additional equipment mobilisation for the Eloise Mine will start in July 2024, with works having commenced on the Jericho development earlier this month.

Contact: Vivian Lim, Group Manager - Marketing & Communication, [e-mail]

About PYBAR

Founded in 1993 by the Rouse family, PYBAR is one of the largest underground hard rock mining contractors in Australia. Those family values still remain strong while offering more to employees, clients and stakeholders, now with the backing of the Thiess Group.

The Thiess Group operates in the mining infrastructure and resources sectors across Australia, Asia and the Americas with more than 15,000 employees.

PYBAR's mandate is to deliver the best return on investment for our clients. Our approach is driven by our values; SAFETY, SERVICE, RESPECT + RESULTS. We are committed to safe, rapid underground development and consistent, reliable production, complemented by broad capabilities in raise bore and shaft lining services.

We have the expertise on hand to respond quickly, backed by the resources to service underground mining projects of any scale.