Beadell Resources signs mining partnership

Company News

Beadell Resources (ASX:BDR) has worked out a mining partnership deal with MACA Limited (ASX:MLD) for the management of all drill and blast, haulage and auxiliary services for Beadell’s 100 per cent owned Tucano Gold mine in Brazil. 
 
The five year deal will see Beadell to progressively transfer all its mining fleet and equipment to MACA in a two year staged acquisition process that will net Beadell $40 million in cash. 
 
The deal means Beadell will no longer need to spend money on mobile equipment and bringing down costs and allowing a 30-40 per cent improvement in productivity. 
 
Beadell Resources reported a net profit of $15 million for the half year ended 30th June 2014.