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The total bill of $7.46 million will be paid in Schlam trucks a deal
$300,000 cash and Develop shares.
with Fortescue
Iron barking up the Schlam Group netted a multimillion-dol-
right tree lar supply agreement from Fortescue Met-
als Group Ltd in May to provide dump bod-
Ironbark Zinc Ltd has engaged in a non- ies, buckets and skilled on-site mechanical
binding MoU with Leonhard Nilsen and and fabrication services for a minimum
Sonner (LNS) for services at the compa- three years.
ny’s flagship Citronen zinc-lead project in Fortescue will be one of the first opera-
Greenland. tors to use the Hercules EXO since its suc-
LNS may take or earn an equity position cessful trial and market release. Hercules
into Citronen with preferred contractor sta- EXO is a 240t class iron ore specific dump
tus for civil construction, mining contracting body. Hercules EXO is 20% lighter than ex-
and logistics management. isting models.
The MoU would be executed in two phas- The lighter body allows workers to carry
es. The first will see LNS undertake a due a greater payload while the refined design
diligence on Citronen. The second would supports an increase in service life.
see LNS undertake the investment. The Schlam has so far supplied up to 60 Her-
agreement currently covers a 12-month cules bodies to Fortescue’s fleet and an ad-
period. ditional 50 are expected in the next financial
“There’s still a lot to understand about LNS operates across Greenland and year.
how we can be the most productive with Norway with a specialty in high latitude civil, “The agreement will underpin our journey
this system,” he said. “As we’re learning construction, mining and logistics business- to introduce the latest robotic technology
and developing, and as everyone becomes es. to transform our manufacturing processes
more familiar with the new way of operating, Citronen underwent a BFS last year. It and develop a state-of-the-art advanced
the added comfort and control will lead to holds an 85mt @ 4.7% zinc and 0.5% lead manufacturing facility right here in WA,”
operators being even more productive than resource and 48.8mt @ 4.8% zinc and Schlam chief executive Matt Thomas said.
we are today.” 0.5% lead reserve.
Ironbark is seeking investment on Cit-
ronen from US bank EXIM, who is currently Schlam and Fortescue inked a $90 million
Develop seeks Premium undertaking a due diligence on the project. agreement this year that will see the miner
provided with dump bodies and buckets
purchase Ironbark managing director Michael Jar- such as the 240t Hercules EXO model
dine expects a long lasting relationship with
Develop Global Ltd has entered into a let- LNS.
ter of intent to acquire Premium Mining & “With their background in Arctic and Ant-
Civil Pty Ltd and Premium Mining Person- arctic construction and mining, there are
nel Pty Ltd for more than $7 million. few – if any – groups anywhere in the world
The Premium Group is an established better qualified to help executive the vision
specialist mining personnel and equipment we have for Citronen,” he said.
provider to the underground mining indus- “This is the beginning of what I antici-
try. Develop seeks to bolster its own under- pate will be a fundamental, long-term and
ground services via the purchase. valuable relationship between Ironbark and
Negotiations between the Premium LNS.”
Group and Develop are to follow for a for-
mal share sale agreement to complete the
acquisition.

aUSTRaLIa’S PaYDIRT JULY 2022 Page 125