Broken Hill Mines Limited (ASX:BHM)

Broken Hill Mines Limited (BHM) has announced the restart of mining operations at the Pinnacles Silver-Lead-Zinc Mine, marking the first mining activity since 2021, when operations were halted due to the COVID-19 pandemic. This initiative is part of BHM's strategy to fully utilize its 750,000 tonnes per annum Rasp processing plant by supplementing it with ore from both the Main Lode and Pinnacles sources, in addition to the ongoing supply from Western Min. The Pinnacles Mine is expected to provide high-grade ore, with initial operations focusing on the open pit, which remained unexplored due to logistical constraints during the pandemic. The restart involves comprehensive mining activities, including the mobilization of contractors and the commencement of earthworks, drilling, blasting, and truck-and-shovel operations. The first ore is anticipated to be trucked to the Rasp Mill by the June quarter. Additionally, BHM plans to expand its operations to include high-grade underground resources at Pinnacles, with potential for further resource development through continued drilling and assessment. The company has a joint venture agreement for the Pinnacles operations, with profits shared between BHM and Pinnacles based on net smelter return calculations.