Perenti Limited announced its subsidiary, Barminco, has secured a 12-month contract extension for the Red Chris mine in British Columbia, Canada.
Red Chris is a joint venture between Newcrest Mining Limited and Imperial Metals Corporation.
Since June 2021, Barminco has continued to advance the development of an underground exploration decline, a significant first stage of works that will offer a platform for future underground exploration activities and may be used to assist access to possible block cave workings.
The contract extension allows Barminco to continue underground development work and is estimated to generate roughly A$90 million in income during the 12-month contract duration.
“Our strategy in North America is to partner with tier-one operators and long-life assets, where we can add value over the long term. We continue to diligently progress our North American growth strategy and have key executive management personnel based in the region to ensure we develop the right relationships and become engrained within the sector while remaining disciplined in the execution of our strategy,” Perenti Managing Director and CEO Mark Norwell said.
Contract Mining President Paul Muller commented, “Since mid-2021, our team in North America has worked closely with the Red Chris JV as it transforms the mine into a long life, tier-one underground operation. We have developed very strong relationships with the local communities including a partnership with the Tahltan Nation Development Corporation and are very pleased to be on site at Red Chris for at least the next 12 months.”
