Latest news with #Barminco
Yahoo
19-05-2025
- Business
- Yahoo
Barminco secures new $320m Agnew gold mine contract
Perenti has announced that its underground mining subsidiary, Barminco, has secured a new contract to continue its underground operations at the Agnew gold mine, owned by Gold Fields, under a contract valued at approximately A$500m ($320m). The contract commenced on 1 January 2025 and spans 36 months, with an option to extend for an additional 12 months. The scope of the contract encompasses underground development, production and related mining services. This agreement reaffirms Barminco's decade-long presence at the site, where it has provided underground mining services since 2010. Perenti managing director and CEO Mark Norwell said: 'We are very pleased to be extending our relationship with Gold Fields at the Agnew Gold Mine. Gold Fields is one of our most long-standing and valued clients, with history of more than 30 years working alongside the various Perenti businesses. 'Our Australian operations are important for Barminco to deliver enduring value and certainty for our clients and shareholders. Maintaining long-term contracts with high-calibre clients such as Gold Fields supports continued delivery of reliable earnings for the business.' The Agnew gold mine, located near Leinster, Western Australia, comprises multiple underground operations. The mine's current ore sources include the Kim, Main and Rajah Lodes at the Waroonga underground complex. Barminco employs more than 300 individuals at the mine, contributing significantly to the local economy. Perenti Contract Mining president Gabrielle Iwanow said: 'Barminco has successfully ramped up development and production at Agnew in recent years. We very much value the relationship with Gold Fields and we look forward to continuing to deliver safe and productive underground services through our highly capable team in Australia.' Last month, Barminco announced that it will cease operations at MMG's Khoemacau Copper Mine in Botswana after its current contract is completed in June 2025. "Barminco secures new $320m Agnew gold mine contract" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
Barminco to cease Khoemacau mine operations in Botswana in June 2025
Mining services provider Perenti's underground mining division, Barminco, will end its operations at global resources company MMG's Khoemacau Copper Mine in Botswana upon the completion of the current contract on 30 June 2025. Barminco has been integral to the mine's operations since its inception in 2019. The company will collaborate with Khoemacau Copper Mining, a subsidiary of MMG, to facilitate a smooth transition and handover by the contract's end date. Perenti managing director and CEO Mark Norwell said: 'We have appreciated the opportunity to work on the Khoemacau Copper Mine and wish MMG well with their expansion plans. 'As outlined during our half year results, the financial performance at Khoemacau has not met our internal performance hurdles and we must maintain our commercial discipline to enable consistent returns through economic cycles.' As stipulated in the existing agreement, Barminco will sell all of its equipment at the mine to MMG. The final valuation of this equipment will adhere to a predetermined formula outlined in the contract. Perenti Contract Mining president Gabrielle Iwanow said: 'I am extremely grateful and appreciative for the efforts of the Barminco team who have delivered results at Khoemacau. I trust that the high standard of training we initiated, including training some of the very first underground mine operators in country, will leave a legacy for the hundreds of Batswana citizens we have worked alongside for the past six years. 'To facilitate a safe and uninterrupted handover of underground operations, we will continue to support the client during the coming months.' In February 2025, Barminco secured an A$120m ($73.85m) contract with Nevada Gold Mines for the Goldrush Project in Nevada, US. "Barminco to cease Khoemacau mine operations in Botswana in June 2025" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
