Perenti Limited has secured contract extensions worth approximately A$420 million for its underground mining businesses.
The contract extensions include:
- A 12-month contract extension of approximately $125 million has been extended to continue underground development and production works at the Gold Fields Agnew underground gold mine.
- AngloGold Ashanti plc has extended a 12-month contract worth approximately $180 million at its Obuasi underground gold mine in Ghana.
- Roxgold Inc. has extended its existing underground development and production contract for about A$115 million for two years. Yaramoko Underground Gold Mine in Burkina Faso. Importantly, the contract states that no new growth capital is required to execute the contract extension.
“We pride ourselves on our enduring relationships, so we are especially pleased to be continuing our relationship with these long-term clients. Our Contract Mining division is now led by Gabrielle Iwanow and will continue to focus on safely delivering for our clients and on our strategic objectives. I look forward to providing an update on this business, including the excellent progress we have made on the integration of DDH1, as part of our 1H23 results which will be released to the market in February,” Perenti CEO and Managing Director Mark Norwell said.
Contract Mining President Gabrielle Iwanow commented, “With these contract awards combined with those previously announced, namely ~A$360 million related to the Sandfire Resources A4 project in Botswana and a further A$111 million related to three Australian surface and underground contract awards, the team has secured nearly A$900 million of revenue for the business. I am very proud to be leading and supporting the Contract Mining team as we collectively work towards delivering our 2025 strategic objectives.”
