Nativo Resources PLC (AIM:NTVO, FRA:A3Z) shares moved higher after it engaged Constructora e Inversiones Andina Kuboc C&P SAC as mining contractor for the Bonanza Gold Mine on its wholly owned Tesoro Concession in Peru’s Arequipa region.
Mining is expected to start during February, with Kuboc set to mobilise an initial 25-person team next week.
The company said initial operations will target areas grading 5-25 grams per tonne of gold and aim to mine 50-90 tonnes of vein material per month while confirming grades and mine integrity. Immediate work is expected to include widening shafts and galleries and installing equipment at the shaft head to improve material recovery to surface, it added.
“We are very happy to be working with the Kuboc, Frasser and IPECPROM teams," said chief executive Stephen Birrell.
He added: “Kuboc provides professional work procedures with expertise in underground gold mining, which will ensure we exploit the Bonanza vein to its full potential.”
Nativo said it has also engaged IPECPROM Mining Operations to provide camp logistics and catering, while Frasser SAC will supply industrial pyrotechnics services using the Apollon Classe IV product line for narrow-vein mining.
In London, Nativo shares climbed 12.6% changing hands at 0.56p.