Latest news with #Perenti
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.
News.com.au
22-04-2025
- Business
- News.com.au
Lunch Wrap: Stock markets on edge again after Trump's latest serve at Powell
Trump sprays Powell again, sinking Wall Street Gold and Aussie dollar pop Yancoal warns of rocky road, Perenti pulls out of Botswana The ASX copped a bit of a knock early on, but by lunch it was pretty much treading water. Overnight, Wall Street had a rough session thanks to a fresh spray from US President Donald Trump, who took aim once again at Jerome Powell, the head of the Fed Reserve. Trump is apparently looking into whether he can legally fire Powell altogether. He called Powell a 'loser' and demanded immediate interest rate cuts, claiming inflation was basically gone. ″'Preemptive Cuts' in Interest Rates are being called for by many,' Trump growled on Truth Social. "There can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW." That sent a chill through the markets, immediately dragging down US stocks, bonds and the greenback. The S&P 500 dropped 2.36%, the tech-heavy Nasdaq shed 2.55%, and Tesla got belted 6% ahead of its earnings release this week. 'If you actually did try to remove the Federal Reserve chairman, I think you would see a severe reaction in markets with yields higher, dollars lower and equities selling off,' said Krishna Guha at Evercore ISI. Trump's latest outburst came just after the Fed boss warned last week a trade war could push prices higher, which is why he's keeping rates steady for now. It also came after Beijing warned that China will hit back at any countries that sign trade deals with Trump. Meanwhile, gold jumped past US$3400 an ounce to a new record, smashing through its previous (real) high from the inflation-rattled 1980s. Elsewhere, the US dollar copped a belting, sinking to its lowest point since 2023. That gave the Aussie dollar a lift, pushing it above 64 US cents this morning. Iron ore has also clawed back some ground, up by 2%, helped along by the softer US dollar and stronger than expected Chinese steel output. Back home, there's a bit to get stuck into on the ASX this morning. Coal giant Yancoal Australia (ASX:YAL) has flagged a rocky road ahead after reporting a 19% drop in quarterly sales. Shares fell 1.25%. 'The coal sector is facing a weak pricing environment as a result of strong supply, and subdued short-term demand in both thermal and metallurgical coal markets,' said Yancoal's acting CEO, Ning Yue. Deep Yellow (ASX:DYL) has hit pause on its Namibian uranium mine, saying current prices aren't enough to justify charging ahead with full development, though it will keep pushing forward on early infrastructure build. Bellevue Gold (ASX:BGL) said it has closed out $110.8 million worth of near-term gold hedge contracts after a cap raise last week. That means almost all of its production through to the end of 2025 will now be sold at spot prices, which should give it a nice boost in free cash and fatten up the balance sheet, the company said. Shares were still down 1%. And mining services company Perenti Global (ASX:PRN) is pulling the plug on its six-year copper gig in Botswana, saying the numbers just aren't adding up. The company will wrap things up at the Khoemacau copper mine, with its underground arm Barminco set to flog off the gear to the client, MMG, when the contract ends on 30 June. PRN's shares also slipped 1%. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for April 22 : Security Description Last % Volume MktCap JLL Jindalee Lithium Ltd 0.350 37% 663,729 $18,765,921 CUL Cullen Resources 0.004 33% 2,975,789 $2,080,206 OLI Oliver'S Real Food 0.004 33% 52,134 $1,622,196 SRN Surefire Rescs NL 0.004 33% 157,125 $7,248,923 TAS Tasman Resources Ltd 0.004 33% 124,473 $2,415,749 SMM Somerset Minerals 0.012 33% 717,386 $2,357,032 AUR Auris Minerals Ltd 0.005 25% 199,210 $1,906,504 CAV Carnavale Resources 0.005 25% 10,000 $16,360,874 YAR Yari Minerals Ltd 0.005 25% 416,946 $1,929,431 SHP South Harz Potash 0.006 20% 500,000 $5,412,894 SKK Stakk Limited 0.006 20% 165,008 $10,375,398 TMS Tennant Minerals Ltd 0.006 20% 234,748 $4,779,452 ADG Adelong Gold Limited 0.007 17% 28,820,802 $8,384,917 PSL Paterson Resources 0.007 17% 280,000 $2,736,227 WIN WIN Metals 0.026 16% 3,994,995 $12,101,278 ATH Alterity Therap Ltd 0.008 14% 3,163,507 $63,891,595 EE1 Earths Energy Ltd 0.008 14% 200,000 $3,709,750 FUL Fulcrum Lithium 0.080 14% 22,550 $5,285,000 AVM Advance Metals Ltd 0.054 13% 17,440,551 $10,273,672 CXU Cauldron Energy Ltd 0.009 13% 30,000 $11,691,237 GBZ GBM Rsources Ltd 0.009 13% 258,850 $9,368,560 H2G Greenhy2 Limited 0.009 13% 161,194 $4,785,473 SHN Sunshine Metals Ltd 0.009 13% 4,571,540 $15,874,492 OCT Octava Minerals 0.037 12% 1,122 $2,013,307 Jindalee Lithium's (ASX:JLL) McDermitt lithium project over in the US just scored a spot on the FAST-41 list, a federal initiative that helps fast-track big-name projects through the red tape. It's one of only ten resources projects nationwide to make the cut, showing just how important it's becoming for America's energy and mineral security. Being on the Permitting Dashboard means more visibility, better coordination between government agencies, and quicker decisions to help get things moving. Somerset Minerals (ASX:SMM) has locked in $2.4 million from investors to kick off its first drill campaign at the Coppermine Project in Canada. It's planning to sink around 1500 metres of drilling into the Coronation target from early July, chasing high-grade copper and silver hits, including past rock chip samples with up to 45% copper. Permits are nearly sorted, with final ticks expected in a week or two, and the project itself still needs shareholder approval next week to go ahead. Prospech (ASX:PRS) has nearly doubled the size of its rare earths resource at the Korsnäs project in Finland, with the updated estimate now sitting at 13.5 million tonnes at just over 1% TREO. It comes off the back of fresh drilling this year plus sampling of old cores from the 50s through to the 70s. PRS said the new numbers confirmed Korsnäs as one of Europe's more exciting rare earths plays still in the early stages. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for April 22 : Code Name Price % Change Volume Market Cap AOA Ausmon Resorces 0.001 -50% 28,000 $2,622,427 TEG Triangle Energy Ltd 0.003 -40% 47,908,516 $10,446,170 SRL Sunrise 0.460 -35% 383,058 $64,061,524 1TT Thrive Tribe Tech 0.001 -33% 2,000,000 $3,047,585 BUY Bounty Oil & Gas NL 0.002 -33% 2,197,434 $4,684,416 EEL Enrg Elements Ltd 0.001 -33% 15,912,733 $4,880,668 CRR Critical Resources 0.003 -25% 164,878 $9,856,885 ERA Energy Resources 0.002 -25% 1,612,056 $810,792,482 TFL Tasfoods Ltd 0.003 -25% 5,711 $1,748,382 VEN Vintage Energy 0.003 -25% 405,934 $7,155,687 CCO The Calmer Co Int 0.004 -20% 22,000 $12,769,356 EVR Ev Resources Ltd 0.004 -20% 78,000 $9,929,183 NAE New Age Exploration 0.004 -20% 7,753,858 $13,296,995 TOU Tlou Energy Ltd 0.018 -18% 70,820 $28,568,855 VHM Vhmlimited 0.315 -17% 342,658 $82,516,982 VMM Viridismining 0.295 -17% 878,913 $30,264,823 5GG Pentanet 0.035 -17% 356,265 $18,193,210 ANX Anax Metals Ltd 0.005 -17% 100,000 $5,296,845 IFG Infocusgroup Hldltd 0.005 -17% 485,256 $1,504,188 LU7 Lithium Universe Ltd 0.005 -17% 4,233,656 $4,715,878 CCR Credit Clear 0.185 -16% 161,352 $93,422,701 SNS Sensen Networks Ltd 0.032 -16% 468,365 $30,135,424 SKY SKY Metals Ltd 0.043 -16% 86,343 $36,245,861 BRX Belararoxlimited 0.115 -15% 95,006 $21,130,518 IN CASE YOU MISSED IT Neurizon Therapeutics (ASX:NUZ) has brought 20 years' experience in accounting, finance, tax, cross-border mergers and acquisitions, procurement, share services and government and industry relations on board in the form of incoming chief financial officer Dan O'Connel. O'Connel previously served as CFO for Newcrest Mining until it was acquired by gold mining giant Newmont Corporation. Preparations for an environmental impact study are underway at the El Zorro gold project in Chile, as Tesoro Gold (ASX:TSO) moves to secure the necessary permits to begin construction and operations at the gold mine. The company estimates the permitting process will take about 24 months. A second drilling rig is poised to begin work at the Develin Creek project, where QMines (ASX:QML) will soon begin RC drilling at the Sulphide City deposit. The drilling forms part of a 10,000-metre campaign designed to expand the 4.2Mt resource base at Develin. At Stockhead, we tell it like it is. While Neurizon Therapeutics, Tesoro Gold and QMines are Stockhead advertisers, they did not sponsor this article. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Yahoo
26-02-2025
- Business
- Yahoo
Perenti (ASX:PRN) Has Announced A Dividend Of A$0.03
Perenti Limited (ASX:PRN) will pay a dividend of A$0.03 on the 3rd of April. This takes the dividend yield to 6.5%, which shareholders will be pleased with. Check out our latest analysis for Perenti While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. The last payment made up 76% of earnings, but cash flows were much higher. In general, cash flows are more important than earnings, so we are comfortable that the dividend will be sustainable going forward, especially with so much cash left over for reinvestment. Looking forward, earnings per share is forecast to rise by 163.7% over the next year. Under the assumption that the dividend will continue along recent trends, we think the payout ratio could be 30% which would be quite comfortable going to take the dividend forward. The company's dividend history has been marked by instability, with at least one cut in the last 10 years. Since 2015, the dividend has gone from A$0.04 total annually to A$0.08. This works out to be a compound annual growth rate (CAGR) of approximately 7.2% a year over that time. It's good to see the dividend growing at a decent rate, but the dividend has been cut at least once in the past. Perenti might have put its house in order since then, but we remain cautious. Growing earnings per share could be a mitigating factor when considering the past fluctuations in the dividend. It's encouraging to see that Perenti has been growing its earnings per share at 185% a year over the past five years. However, Perenti isn't reinvesting a lot back into the business, so we wonder how quickly it will be able to grow in the future. Overall, we always like to see the dividend being raised, but we don't think Perenti will make a great income stock. The company is generating plenty of cash, which could maintain the dividend for a while, but the track record hasn't been great. We would be a touch cautious of relying on this stock primarily for the dividend income. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. However, there are other things to consider for investors when analysing stock performance. Taking the debate a bit further, we've identified 2 warning signs for Perenti that investors need to be conscious of moving forward. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
