Larvotto Signs PYBAR for 20km Underground Development at Hillgrove
Larvotto Resources has appointed PYBAR Mining Services to undertake extensive underground development at its Hillgrove Antimony-Gold Project, paving the way for production to commence in 2026.
- Binding contract signed with PYBAR for approximately 20km of underground development
- Development work spans Metz, Garibaldi, and Clarks Gully zones over four years
- Project aims to supply 7% of global antimony demand upon production start
- Complementary contracts in place for processing plant upgrades
- Fully funded through recent equity raise and senior secured bond issuance
Strategic Partnership with PYBAR
Larvotto Resources Limited has formalised a key partnership with PYBAR Mining Services Pty Ltd, appointing the contractor to lead underground development at the Hillgrove Antimony-Gold Project in New South Wales. The binding agreement covers approximately 20 kilometres of underground work over an initial four-year term, with an option to extend. This milestone contract is critical to Larvotto’s ambition to become Australia’s next major antimony producer.
Scope and Significance of Underground Development
PYBAR’s scope includes decline and lateral development, rehabilitation, ground support installation, and haulage activities across the Metz, Garibaldi, and Clarks Gully underground zones. Known for its rapid mobilisation and extensive underground mining experience spanning over three decades, PYBAR will provide a full-service solution encompassing equipment, personnel, and statutory supervision under a robust Safety and Health Management System.
Complementary Project Advancements
This underground development contract complements Larvotto’s existing EPCM contract with MACA-Interquip-Mintrex (MIQM) for upgrading the processing plant. Together, these contracts form the backbone of Larvotto’s development program, supporting the scheduled commencement of underground mining operations in the fourth quarter of 2025 and targeting first production in 2026.
Market Position and Funding
The Hillgrove Project is positioned to produce approximately 40,500 ounces of gold and 14,000 tonnes of antimony concentrate annually, translating to around 5,000 tonnes of antimony metal. This output is expected to represent about 7% of the global antimony supply, a significant contribution given the metal’s critical role in flame retardants, batteries, and other industrial applications. Larvotto’s development is fully funded following a successful A$70 million equity raise and a US$105 million senior secured bond issue, providing financial certainty for the project’s capital and working capital needs.
Looking Ahead
With the appointment of PYBAR and the complementary processing plant upgrade underway, Larvotto is steadily advancing towards its goal of becoming a key player in the antimony market. The company’s strategic partnerships and robust funding underpin a development timeline that remains on track, setting the stage for Hillgrove’s emergence as a significant supplier in 2026.
Bottom Line?
Larvotto’s Hillgrove project is on a clear path to production, but execution and market dynamics will shape its impact on the global antimony supply.
Questions in the middle?
- What are the detailed cost implications and margins expected from the underground development contract?
- How will Larvotto manage potential operational risks during the ramp-up to production?
- What is the outlook for global antimony demand and pricing as Hillgrove enters production?
