Latest news with #Perenti
Yahoo
26-06-2025
- Business
- Yahoo
Barminco secures $130m mining contract from Westgold Resources in Australia
Perenti has announced that its underground mining division, Barminco, has secured a A$200m ($130m) contract with Westgold Resources to deliver underground mining services at the Great Fingall project in Western Australia. The Great Fingall project is expected to operate as a long-life, high-margin underground mine with an annual production exceeding 45,000oz. It is a relatively small mine, making it suitable for contract mining. The mine is expected to be a high-grade operation characterised by cost efficiency and productivity, and supported by a comprehensive mine plan, reliable drilling data, favourable ground conditions and well-established mine infrastructure. Westgold managing director and CEO Wayne Bramwell said: 'Westgold continues to focus on increasing mine productivity and further leveraging its extensive capital base. Our in-house mining team and fleet is best deployed in our larger, strategic assets and this capability gives us the optionality to utilise specialist contractors in our smaller mines.' Barminco was chosen for the Great Fingall project based on the company's safety protocols, mining efficiency, and proven delivery record, following a competitive tender process. The three-year contract encompasses a range of services including mine development, production and related underground mining services. It includes an option to extend by 12 months. Perenti managing director and CEO Mark Norwell said: 'We are excited to be partnering with Westgold on the Great Fingall project. This award highlights the depth and scale of Barminco's mining and technical capability and supports the ongoing focus of growing our underground mining business in Australia and select regions internationally.' Mobilisation for the project is scheduled to commence in July 2025, with first production from the mine expected in 2026. Perenti expects the capital requirement for the project to be around A$16m of growth capital in fiscal year 2026. Perenti Contract Mining president Gabrielle Iwanow said: 'We are proud to mark the beginning of a new relationship between Westgold and Barminco on the Great Fingall project. 'Westgold's decision is an endorsement of the strength of our technical capability and our commitment to safe and efficient operations. We look forward to building a strong partnership that delivers value for both companies and the communities in which we operate.' Earlier this month, Perenti secured a contract worth A$1.1bn to carry out underground mining operations in the Siou and Wona regions of the Mana complex in Burkina Faso, West Africa. "Barminco secures $130m mining contract from Westgold Resources in Australia" 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
25-06-2025
- Business
- Wall Street Journal
Australia Shares Set to Pause Rally at the Open
2239 GMT – Australia's S&P/ASX 200 looks set to slip at the start of Thursday's session following a mixed lead from U.S. equities. ASX futures are down by 0.4% ahead of the open, suggesting that the benchmark index might pause its recent rally. Last week, the ASX 200 snapped a run of five straight weekly gains, but is up 0.6% so far this week after back-to-back advances. Ahead of the open, dual-listed miner Champion Iron announced a US$450 million refinancing and Westgold said it awarded an underground mining contract to Perenti. In the U.S., tech stocks led the Nasdaq Composite 0.3% higher. The S&P 500 was flat and the DJIA fell 0.25%. (
TimesLIVE
02-06-2025
- Business
- TimesLIVE
Australia's Perenti secures R12bn mining contract in Burkina Faso
Australia's Perenti said on Monday it will provide underground mining services at London-listed Endeavour Mining's Mana complex in the West African country of Burkina Faso under a A$1.1-billion (R12.76bn) contract.
Yahoo
23-05-2025
- Business
- Yahoo
AUMS secures $655bn contract for AngloGold Ashanti's Obuasi Gold Mine
African Underground Mining Services (AUMS), via the Underground Mining Alliance (UMA) joint venture (JV), has secured a A$1.02bn ($655.3m) contract with AngloGold Ashanti for underground mining services at the Obuasi Gold Mine in Ghana. The UMA JV, which is responsible for the Obuasi contract, is 60% owned by AUMS and 40% by Rocksure International, a local Ghanaian civil and mining contractor. AUMS is the subsidiary of Australian mining services group Perenti. The contract spans five years from 1 February 2025 and encompasses underground development, production and related mining services. The agreement stipulates that no new growth capital is required as AngloGold Ashanti will provide major capital expenditure. Perenti managing director and CEO Mark Norwell said: 'We are pleased to sign the Obuasi contract with AngloGold Ashanti (AGA) for an additional five years. We highly value our relationship with AGA and look forward to continuing and deepening our positive working relationship. 'This agreement is a testament to the reliability and value provided by our Contract Mining division. Our extensive operational experience and the scale of our global underground business enables us to consistently deliver enduring value and certainty to our clients and shareholders.' Obuasi, an underground mining operation to a depth of 1,500m, is situated in the Ashanti region of Ghana, around 60km south of Kumasi. AUMS has been operating at the Obuasi mine since February 2019. Perenti Contract Mining president Gabrielle Iwanow said: 'Our relationship with AngloGold Ashanti is of great importance to our Contract Mining division. As one of the world's largest gold miners, we are proud to work alongside them in a collaborative manner. 'We look forward to continuing to grow our relationship with them over the years ahead and supporting them to meet their business objectives.' Earlier this month, Perenti underground mining subsidiary Barminco secured a A$500m contract to continue its underground operations at the Agnew gold mine in Australia, owned by Gold Fields. Barminco will provide underground development, production and related mining services under the contract. "AUMS secures $655bn contract for AngloGold Ashanti's Obuasi Gold Mine" 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
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.
