(65 percent equity share via BT Mining)
Rotowaro had a solid FY19 where the partnerships we have in place continue to work well.
In November 2018 we were pleased to announce the transition to owner operator and continuation of mining at Rotowaro for a further four years. This is via the development of a new resource at Waipuna West which is within Rotowaro’s current area of operations.
A significant investment (approximately $20m) was made to purchase the contractor mining fleet with an extensive maintenance review of this gear also undertaken after the acquisition.
A key part of this extension project was ensuring we had commercial partners supporting us; to this end we secured support from two of our key North Island customers, with major supply contracts committed for 480ktpa until 2023.