The term is for five years and Resgen will buy the equipment from Komatsu Southern Africa Pty Ltd.

There is subject to several conditions, said managing director Paul Jury, but added: “This agreement represents several important elements for the project. It not only secures the funding required for the mining fleet for stage one of the Boikarabelo mine development but also establishes a key partnership for further mine expansion to occur.

“The transaction clears the way for final infrastructure designs and refines training and maintenance processes. In addition it provides clarity in relation to negotiations for remaining debt.”