PKKP Enterprises increases its fleet at Eliwana Mine Site

PKKP is happy to announce that it has entered into a contract with FMGL for the hire of 3 Caterpillar 992 Wheel Loaders.

The new 992 loaders are 32% more productive and 48% more efficient than previous models with a 10% reduction in maintenance costs providing reliable, cost-effective assets for the enterprise. The 992 model provides a superior loading capacity over other loaders, it’s multifunctional and versatile being able to work both as a loader and a support machine for other loading tools on site.

Caterpillar wheel loaders have an average life span of 10 years yielding a sound investment for PKKP.

The three loaders will be based at the Flying Fish Project which is a 5 – 7Mtpa Satellite Ore Body (SOB), approximately 40 kms from the main Eliwana mine, close to Tom Price in the Pilbara.

Flying Fish SOB is estimated to have a 10-year life of mine and the first ore on train is on target for July 2023. The project will provide ongoing opportunities and future development for PKKP in the provision of equipment and services.

FMGL has extended its ANZ Credit Facility to PKKP Enterprises, which will allow PKKP Enterprises to borrow, under current commercial market rates, the ~ $12M capital required for the purchase of the 3 Cat 992 Wheel Loaders.

PKKP Enterprises General Manager Shaun Burgess said “that this is a great opportunity for us to work with FMG on member’s country and be able to build additional value on our growing balance sheet. I see the hiring of this HME as a first step in a planned process of building capability of PKKP Enterprises to be able to work in the Mining Services space. We are encouraged that FMG sees that we are maturing as an organisation and building capability in this space.”

The 992 loaders will be mobilised to Flying Fish when ore production commences in 2023.