The companies have jointly developed a detailed mobilisation and implementation plan, which will now be put into place since the formal mining contract has been signed.

Transition to contract mining at Savannah is now expected to be completed by early next month.

"The newer mining fleet to be supplied by Barminco is expected to deliver enhanced equipment reliability," Panoramic officials said.

"Together with Barminco's proven expertise and operating systems, this is expected to significantly increase operational efficiencies and drive production volumes towards targeted levels."

Neither group indicated when the contract mining deal would expire.

Barminco is a subsidiary of global mining services group Perenti Global.