WHAT WE DOWe’re experts in hard rock surface and underground mining, drilling services, mining services and have a focus on future technology solutions.
INVESTORSOur focus is to deliver shareholder returns by building a portfolio of complementary businesses that deliver consistent and quality cash backed profits.
Perenti is pleased to announce its subsidiary, leading hard-rock underground miner Barminco, has been awarded a contract extension at Gold Fields’ Agnew Gold Mine in Leinster, Western Australia. The extension is valued at over A$200 million and is for full underground mining services, driven by an increase in development and production physicals at the mine. Barminco has been successfully operating at Agnew since 2010.
Perenti Managing Director and Chief Executive Officer Mark Norwell said: “We are delighted to be extending our relationship with our long-standing client, Gold Fields.
“Part of our 2025 group strategy is to organically grow this part of our business. The recent achievements of Barminco in this regard are a result of the strong relationships we share with our clients and the value we create for them through our world class underground mining capabilities.”
Perenti Mining Chief Executive Officer Paul Muller said: “We have been providing safe and efficient underground mining services at Agnew for more than 10 years and we are very pleased to be supporting Gold Fields with their increased development and production requirements. This extension will take our current term out to December 2023.”
Gold Fields’ Agnew Gold Mine located close to Leinster in Western Australia.
Perenti is pleased to announce the award of more than A$307 million in new work and contract extensions at Australian mining projects through leading hard rock underground mining business, Barminco and Australia’s premier drilling services provider, Ausdrill.
The new work and contract extensions are across four underground and two surface mining projects in New South Wales and Western Australia, with long-term clients Gold Fields, Western Areas, Consolidated Minerals and Evolution Mining.
Perenti Managing Director and CEO Mark Norwell said the contracts reflected Perenti’s ability to deliver value and certainty for its clients by providing them with quality mining solutions across the Group’s diverse portfolio.
Perenti Mining Chief Executive Officer, Paul Muller, said the new and extended contracts were also a result of the enduring relationships Barminco and Ausdrill have shared with their clients.
Perenti Managing Director and CEO Mark Norwell presented on day one of the African Down Under 2020 conference at the Pan Pacific Hotel in Perth. Mr Norwell talked about Perenti’s 30-year journey in Africa through its businesses AMS, Barminco, AUMS, Supply Direct and Logistics Direct, and how strong relationships with stakeholders have underpinned the Group’s success in the region over three decades. A key theme in the presentation was community engagement and the Group’s strong track record of training African citizens and sharing skills and knowledge to leave a lasting legacy of education and economic benefit in the communities that we have become a part of. Finally, Mr Norwell touched on the Group’s response to COVID-19 and the extraordinary logistical efforts that the team has gone to in keeping its people safe and sustaining international and regional crew change activities that have enabled operational continuity for Perenti’s clients in Africa.
Perenti has delivered strong operating and financial results in FY20, demonstrating the strength of its global mining services business to withstand challenges and provide certainty. Perenti is set to deliver similar revenue and operating margins in FY21, subject to COVID-19 impacts, with solid growth expected in FY22.
In FY20 Perenti delivered record revenue – exceeding $2 billion for the first time – record EBITDA, significantly strengthened its liquidity position, and has entered FY21 with more than $5 billion work in hand and almost $11 billion in contract rollovers and targeted tender opportunities.
Perenti Managing Director & CEO, Mark Norwell said the FY20 financial results reflected the team’s ability to successfully navigate a turbulent year and deliver value and certainty for Perenti’s clients and investors.
“To report record revenue and earnings, end the year in a stronger financial position than 12 months ago, and maintain a substantial order book is impressive, but to do so in the midst of the operational and economic challenges presented by COVID-19 is exceptional,” Mr Norwell said.
“Perenti experienced isolated impacts of COVID-19 at Perenti’s projects, with a strong response by our internal executive led COVID-19 taskforce. The company also achieved tangible progress against key initiatives under the 2025 Group strategy, positioning Perenti for the future.
“Of note, we converted close to 100 per cent of earnings into cash, remained focused on capital discipline, and made considerable progress in transforming our Surface business in Africa, AMS, with stronger financial performance in the second half of FY20. Meanwhile, Underground delivered standout financial and operational performance through the Barminco and AUMS businesses across both Australia and Africa.
“We also secured almost $1 billion in contact extensions and new work across our Surface and Underground ISGs in FY20 and successfully commenced operations in attractive mining jurisdictions of Botswana and Canada.
“Importantly, we continued to look to the future by investing in the business and our people that will enable us to deliver on our 2025 Group strategy.
“The results and achievements reflect the dedication of our high calibre team and the strength of our operating discipline and I would like to thank our employees and their families for their support.”
For more information on Perenti’s FY20 Results visit the investors page .
Yesterday morning Perenti Group Managing Director & CEO Mark
Norwell spoke to investors regarding the situation facing the Group and how it
is responding to the current COVID-19 pandemic.
He stressed that to date there has been minimal impact on
the company’s operations but Perenti remains mindful of the considerable impact
COVID-19 is having globally.
Mr
Norwell said the company’s key priorities in dealing with COVID-19 is the
health and safety of its people, limiting the spread of the virus and delivering
value for its customers by doing everything possible to continue operating
safely in what is a complex and everchanging environment.
“We are focused on protecting the wellbeing of our people and working closely with key stakeholders so that we can continue to operate safely and effectively during this unprecedented period,” he said.
“We are doing all that we can to minimise any disruption and we will continue to focus on capital management as part of our 2025 Group strategy to ensure Perenti is well positioned to deliver through all economic cycles.”
Mr Norwell also praised employees who had gone above and beyond in recent weeks, especially expats who had stayed in country to support its international operations, FIFO workers for their resilience as well as the families of all its employees for their support and understanding.
Perenti is pleased to announce its subsidiary, leading hard-rock underground miner Barminco, has received a letter of intent from Barrick to provide underground contract mining services at Barrick’s Hemlo Mine, located in the Marathon mining district of north western Ontario, Canada.
Under the proposed three-year, approximately $200 million
mining services contract, Barminco will bring industry-leading technology and
productivity to Hemlo in support of Barrick’s goal to modernise and improve the
performance of the mine and establish it as a tier two asset within its group.
Barminco’s scope includes undertaking mine development,
production and haulage, utilising mining equipment provided by Barrick. The
company anticipates employing more than 300 people at the operation, with works
commencing in April 2020.
The Hemlo Mine has produced more than 21 Million ounces of
gold over 30 years of operation.
Perenti Group Managing Director Mark Norwell said the
contract award was another significant step in the Group’s international growth
strategy to enter attractive and stable mining jurisdictions.
“This is Barminco and Perenti’s first significant contract
in North America and builds on our regional growth capabilities, after expanding
into Botswana last year with an $800 million contract. We look forward to
supporting Barrick to deliver outstanding results at Hemlo,” Mr Norwell said.
Underground Chief Executive Officer Paul Muller said: “We are thrilled to be in a position to support Barrick to improve the performance of the Hemlo mine. We intend to work very closely with Barrick and all key stakeholders, including the incumbent workforce at Hemlo, the Pic River and Pic Mobert First Nations people and the Marathon community more generally to deliver a sustainable improvement in performance, thereby assuring the future of Hemlo.”
Perenti has delivered
a strong result in HY20, with the Company on track to meet its most recent FY20
earnings guidance. Perenti Managing Director Mark Norwell said the HY20 results
demonstrated the diversity and resilience of the expanded Group.
“At a Group level our
underlying earnings were strong, which was an impressive achievement, given the
challenges in African Mining Services (AMS), demonstrating the breadth of
Perenti’s portfolio,” Mr Norwell said.
“Perenti’s
underground mining business, across Australia and Africa, performed exceptionally
well, with earnings growing by more than one-third over the prior corresponding
period as we successfully integrated Barminco into the Perenti group.
“Meanwhile, in our
surface mining business, our Ausdrill operations in Australia performed in line
with expectations but our AMS operations in Africa delivered an unsatisfactory
result that impacted Group earnings.
“A key focus of our
2025 Group strategy has been on the transformation of AMS, with a range of
initiatives underway including enhanced earnings, cash conversion, and
efficient capital management.
“In addition to the
AMS transformation initiative, a strategic review of AMS has now commenced that
will thoroughly assess the business more broadly.
“In November, 19 of our employees tragically lost their lives and a further 26 were injured as a result of an unprecedented terrorist attack in Burkina Faso. In response, we reassessed where and how we operate, with Perenti ceasing operations in Burkina Faso’s higher risk locations given the current security situation. We also continue to do everything possible to ensure that all injured employees, work colleagues and impacted families are receiving the best possible care and support.”
To see the full FY20 H1 results please visit the Investor Section of our website.
Perenti is pleased to announce its Surface Mining Industry Sector Group (ISG) has been awarded $155.5 million in new and extended contracts.
Perenti Group Managing Director Mark Norwell said the contracts reflected Perenti’s ability to deliver value for its clients by performing quality work across the Group’s diverse Surface portfolio.
“We have been targeting a strong pipeline of surface and underground work and I am pleased we continue to convert these opportunities into secured contracts across a range of different projects in both Australia and Africa,” Mr Norwell said.
“These latest awards add to $165 million in surface work we announced in December 2019 and the $200 million contract we recently announced for our Underground ISG.
Perenti Surface Chief Executive Officer Scott Winter added: “Through our surface business, we continue to demonstrate our leading expertise and reputation in the sector. This has resulted in a number of contract extensions and expansions for our quality client base.”
The new work, extensions, and expansion of scope is across ten projects, with highlights including: • A 3-year contract (with options to extend) for production drilling services with Boggabri Coal Operations (a part of Idemitsu Australia Resources Group) at its Boggabri Mine in New South Wales. • A 3-year contract extension with a major iron ore producer for reverse circulation (RC) and grade control (GC) drilling at its Western Australian operations. • A 12-month contract extension with Consolidated Minerals to support current mining operations and regional expansion projects. • Expansion of services for a major mining contractor in Queensland which will double the contract value across the current three-year contract duration. • A 12-month extension to existing works at Gold Fields’ St Ives and Granny Smith projects, which involves land and lake rigs for air core, RC and diamond drilling. • An equipment hire agreement with E&P at Gold Fields’ Damang Mine in Ghana.
Perenti is pleased to announce its subsidiary, leading hard-rock underground miner Barminco, has formally been awarded a contract by Panoramic Resources at the Savannah Project in the Kimberley, after receiving preferred contractor status last month (see ASX release dated 30 January 2020).
Under the circa $200 million contract, Barminco will undertake mine development, production, and haulage over a three-year term at the nickel-copper-cobalt project, with approximately 170 people expected to be employed.
Barminco has been in discussions with Panoramic over recent weeks to develop a mobilisation plan and contract mining is expected to commence in early March 2020.
The newer mining fleet to be supplied by Barminco is expected to deliver enhanced equipment reliability. Together with Barminco’s proven expertise and operating systems, this is expected to significantly increase operational efficiencies and drive production volumes towards targeted levels.
Barminco has commenced offering roles to the majority of the existing Panoramic underground mining and maintenance workforce at Savannah, with specialist expertise and supervision roles being introduced from the Barminco portfolio.
Panoramic Managing Director and CEO, Victor Rajasooriar, commented: “The execution of a mining contract with leading underground services provider, Barminco, represents a significant step forward for the Savannah Nickel Mine and Panoramic. We now look forward to delivering a rapid and efficient transition to Barminco run operations. With their proven expertise, we are confident that underground mining productivities at Savannah are set to improve significantly over the coming months.”
Perenti Managing Director Mark Norwell said: “We are pleased to have been formally awarded the contract and look forward to working closely with Panoramic to deliver on this project.”
We’re pleased to announce that we’ve recently been awarded $79m in new contracts for a range of exploration and production drill & blast works both in Queensland and Western Australia.
The projects are across multiple commodities and for both new and existing clients, reflecting our diverse capabilities and our focus on delivering value and certainty to our customers.
Ausdrill continues to provide our clients with safe, productive and quality drilling outcomes with our innovative range of custom-built drill rigs.
Our two new CAT MD6310 drill rigs are already up and running at the Middlemount project in Queensland, with another few diamond rigs making its way to Queensland later this month as the team and fleet numbers grow in the region. The team is excited to have new equipment to operate, whilst delivering a full turnkey drill and blast contract for our client.
If you’re interested in working in one of these new projects or more generally for a leading mining contractor, visit our careers page at www.ausdrill.com.au/working-with-us
Leading underground mining services provider Barminco, a subsidiary of Perenti, has successfully piloted a new operations centre that allows it to remotely operate underground equipment on a client’s mine site anywhere around the world.
In
what the company believes is a world first, Barminco operated a machine,
working underground, from its head office in Perth at a client mine site in the
Goldfields.
The
innovation was made more impressive given the remote operation occurred via the
internet, instead of through a fibre-optic cable, which is the method that mine
owner-operators have historically used.
Operating remotely from Perth
Barminco
Chief Executive Officer Paul Muller announced the momentous achievement at the
third annual Sandvik Digitalization in Mining Event in Brisbane.
“Barminco
has cemented its place as one of the world’s leading underground mining service
providers through the use of technology and automation,” Mr Muller said.
“A
key strategic initiative under our parent company, Perenti’s, 2025 strategy is
to deliver a ‘technology driven future’, and our ability to remotely operate
underground machinery from our head office is a significant achievement in
delivering on that strategy.”
The
Barminco Remote Operating Centre or BROC was successfully trialled in
collaboration with Sandvik and Independence Group NL (IGO) back in July of this
year.
The
new system was trialled in the early morning at Barminco’s Head Office in
Hazlemere (Perth, Western Australia) for a machine located at IGO’s Nova
Minesite, almost 1000 kilometres away.
Map Perth to Nova – Distance
Remote operations onsite at Nova
Barminco
General Manager Technology and Innovation Darren Kwok said the trial was a
great success.
“Whilst
many mine sites have operators remotely operating equipment from the mine’s
surface, we are one of the first, if not the first service provider, to operate
underground equipment on a client’s site from a much greater distance,” Mr Kwok
said.
“BROC
enables us to connect multiple sites and operators at the same time, meaning if
there is an issue at any point, we have contingencies in place.”
Barminco Remote Loader Operator
Barminco’s
first trial involved the remote operation of a Sandvik LH517 loader being
operated in Perth by Barminco employee, Guy Gilbert and Mr Kwok said Barminco
was now working with IGO to make BROC a permanent fixture at their Nova mine
site.
“The
advantages in improving the safety of our workplace and the efficiencies for
our clients are enormous,” Mr Kwok said.
Surface Remote Operations at Nova
Independence
Group Chief Operating Officer Matt Dusci said the Company was thrilled to be
part of the successful trial.
“At
IGO, we continually look for ways to improve how we do business and deliver
operational excellence. By integrating innovative SMART solutions at our
operations, such as working with Barminco on BROC, we improve the safety and
wellbeing of our people, realise step change opportunities, and optimise
efficiencies and productivity,” Mr Dusci said.
“Our
future plan is to have a dedicated remote operating centre manned 24/7 where
our team and our client’s people can work collaboratively side by side to
deliver a world class mine-site,” Mr Kwok said.
“Clients
who work with Barminco should expect more
from our business along with the broader Perenti group of companies and
BROC is one such example of how we are delivering on this promise.”
Underground remote set-up at Nova
The
Sandvik event concludes tomorrow and showcases best practice examples of
industry leaders integrating digitalization into their operations across the
mining, construction and quarrying industries.
The
announcement comes just over a week after Barminco was awarded Large Employer
of the Year 2019 at the National Australian Training Awards in Brisbane.
The
award acknowledges a company which is focused on upskilling and advancing its
employees and we were recognised for our leading focus on ensuring our
employees are the best they can be.
Brian Finlay, Group Mgr Training and Patrick Bourke, GM Safety and People accepting the award
Perenti company Barminco was named ‘Australia’s Large Employer of the Year 2019’ at the National Australian Training Awards in Brisbane. This award recognises a company which is focused on upskilling employees.
Barminco Chief
Executive Officer Paul Muller said it was an honour to be recognised.
“Our vision is to be the world’s leading hard rock underground mining service provider, and our people are at the core of that vision”.
“We are aiming to significantly increase the size of our business in the next five years in what is a highly competitive labour market and our focus is firmly on training and our integrated people strategy.”
“It is wonderful to be recognised nationally for our work in this area”, Mr Muller said.
Barminco was
established in Coolgardie 30 years ago with just 30 employees and today has 3,900
employees across 22 projects in 8 countries and 4 continents.
Key elements of
Barminco’s training strategy are the Barminco Training Centres, the first of
which has just opened in its Hazelmere head office in Western Australia, with a
second facility being replicated on a larger scale in Botswana that is due to
open shortly.
“These unique facilities replicate what it is like to be underground. There is a focus on operational skills and they utilise technology to offer customised virtual reality scenarios for all the different underground jobs”, said Barminco’s General Manager, Safety and People, Patrick Bourke.
“This is a game-changer for us as it ensures new employees go to site with a much better understanding of the underground environment so they are safer and can operate more efficiently.”
“Barminco’s focus on training people extends to several other programs, including its successful apprenticeship program that has been running for more than 20 years and its unique leadership program designed to provide career progression for employees, a key retention tool to develop and progress staff into management roles.”
Mr Bourke said
Barminco’s rapid growth was down to the people the Company employed and
therefore investment in their training was essential.
“We are extremely proud of our innovative training programs and it has made an enormous difference to our business.”
Barminco was one of three named finalists for the 2019 Australian Training Award – Large Employer of the Year, following a win for the same category at the WA Awards in September.
Barminco has sucessfully operated apprentiship programs for more than 20 years
The new Barminco Training Centre replicates the underground environment and provides an authentic training experience
The
partnership between Ausdrill and the world number two ranked Hockeyroos has
been further strengthened with a new two year contract renewal that will take
the partnership past a decade.
Mark
Norwell Group Managing Director – Perenti and Scott Winter Chief Executive Officer
– Ausdrill were at Perth Hockey Stadium with Hockey Australia Chief Executive
Officer Matt Favier and the Hockeyroos to celebrate the renewal.
Ausdrill’s
association with Australia’s national hockey teams first began in 2011, and its
continuation as the Official Naming Rights Partner of the Hockeyroos and the
Official Supporting Partner of the Kookaburras will take the partnership up to
2021.
In
addition to valuable funding for the Hockeyroos and Kookaburras High
Performance Program, the partnership also encompasses a range of other
benefits.
Ausdrill
is dedicated to supporting Hockeyroos players with career development, study
and employment opportunities to assist them during and post playing hockey.
Both
parties will develop a joint plan focused on promoting hockey through
indigenous engagement and other community development initiatives, while also
looking to promote gender diversity in mining.
“The
wonderful, longstanding and ongoing support Ausdrill and Perenti have provided
to our two elite national teams has been absolutely invaluable,” said Hockey
Australia CEO, Matt Favier.
“Ausdrill
has shown incredible loyalty and commitment in its alliance with Hockey
Australia and particularly the Hockeyroos, and we look forward to continuing to
build on the partnership and strong relationships that have been forged.”
The
timing of the announcement comes at a fitting time with the Hockeyroos
preparing for their Olympic Qualifying Series against Russia this Friday and
Saturday.
Since
the start of the partnership the Hockeyroos have risen from seventh to second
in the world rankings.
“The
Hockeyroos are one of the most successful national sporting teams in Australia
and we are proud to be part of that and to extend our partnership with them,
the Kookaburras and Hockey Australia for a further two years,” said Scott
Winter Chief Executive Officer of Ausdrill.
“This
partnership is about supporting the teams on the pitch to help them realise
their Olympic dreams as well as supporting the players off the pitch through
personal development opportunities.
“This is an exciting time for the team and we wish them all the best for the Olympic qualifier this coming Friday and for the duration of our partnership.”
Matt Favier – CEO Hockey Australia, Scott Winter – CEO Ausdrill, Emily Chalker, Mark Norwell – Group Managing Director Perenti, and Paul Gaudoin – Hockeyroos Coach after Ausdrill renewed their sponsorship of the Hockeyroos at a function at the Perth Hockey Stadium today, Wednesday October 23, 2019
Scott Winter – CEO Ausdrill, Mark Norwell – Group Managing Director Perenti, Matt Favier – CEO Hockey Australia, Tim Cherry – General Manager of Commercial Hockeyroos, with the Hockeyroos squad
Scott Winter – CEO Ausdrill with Rachael Lynch, Georgia Wilson and Grace Stewart from the Hockeyroos team
Diversified mining services company Perenti Global Limited (Perenti) (ASX: PRN) has delivered a strong result, outperforming earnings guidance for the third consecutive year whilst successfully completing the acquisition of underground mining contractor Barminco that has transformed the business.
Perenti Managing Director and CEO Mark Norwell said the FY19
results demonstrated the scale of the Group’s transformation during the year.
“This strong result demonstrates our ability to continue to
deliver for our clients in the year whilst ensuring we successfully integrated
the Barminco business,” Mr Norwell said.
“We have evolved from an Australian drilling business into a
global mining services company, with a workforce of more than 8,000 people
working at more than 50 projects across four continents.
“We have used this transformational year to build on our
proud heritage by establishing a new operating model and implementing the 2025
Group strategy, with our aspiration to become the indispensable mining services
company.
“Our recent group rebrand to Perenti gives us a strong and identifiable brand in the market and a platform to grow our business in the future while the evolution of our tagline to Expect More supports our aspiration and purpose, underlining our commitment to deliver for all our stakeholders.
“With a strong balance sheet and an order book that has
grown to $7.0 billion after securing $3.4 billion in new and extended contracts
since 1 July 2018, Perenti is well positioned for growth in FY20.”
To view the full ASX release and Annual Report visit our Investor Centre.
Ausdrill Limited is pleased to announce that the Ausdrill Group is adopting a new brand and identity, “Perenti“. “Perenti Global Limited” will be the trading name of the Group company and listed entity and will sit above the Industry Sector Groups (ISGs); Surface Mining, Underground Mining and Investments.
The Board considers the new name and brand better reflect the Group’s status as a diversified global mining services group and provides a strong platform that will support the Group’s strategic direction and future growth ambitions.
The Group’s Managing Director Mark Norwell said the change represents a new chapter in the Group’s proud history and is a natural step given the evolution of the business.
“Over the past year there has been transformational change within the Group. We have doubled our revenue through the acquisition of Barminco, developed a new strategy and implemented a new operating model to set a platform for future growth.
“We have evolved from an Australian drilling company into a global mining services company that has businesses in surface mining, underground mining and mining support services (our Investment ISG). We have offices and operations in four continents across 13 countries and we employ more than 8,000 people globally.”
Mr Norwell said having a strong, identifiable brand is a critical enabler of the Group’s growth strategy.
“As a group of businesses we are resilient and agile and have the ability to embrace change, a key aspect that is directly embedded in our company principles. We also pride ourselves on successfully operating in many challenging and remote locations the world over.
“This name change is more than cosmetic, it’s an important step in culturally binding our businesses together under a common identity and it supports our new aspiration, purpose and strategy we rolled out earlier in the year,” Mr Norwell said.
Existing customer facing brand names will be retained as they are well established in their respective markets. The Ausdrill name has a long and proud history and that name will be retained for the Group’s surface drilling operations in Australia. In addition, our other iconic brands such as Barminco, BTP, AMS and more, will continue to be used in their own right.
To support the new brand and direction the Group has also evolved its tagline from Bringing More to Mining, to Expect More, underlining a commitment to all its stakeholders.
“For the Group to achieve our aspiration and deliver our purpose we have to constantly raise the bar in everything we do. Our stakeholders, whether they are customers, suppliers, employees or the communities we operate in, should Expect More from us,” he said.
Perenti Global was the only mining services company to be presenting at Diggers & Dealers 2019. The message from our Group Managing Director Mark Norwell at the mining forum was clear. The Group has undergone transitional change over the last 12 months, doubling our revenue, bolstering our leadership team and laying the foundation blocks for future growth. These are exciting times to be part of the Group.
The Group is pleased to announce that its wholly
owned subsidiary, African Mining Services (AMS), has been selected as the preferred
open-pit mining contractor by West African Resources Limited (ASX: WAF) at the
Sanbrado Gold Project in Burkina Faso.
The Sanbrado Gold Project is a low-cost,
high-grade operation located only 90 kilometres from the country’s capital,
Ouagadougou, and is the 14th commercial gold mine in Burkina Faso in 14 years.
The project economics are robust, with
Sanbrado forecast to have average annual production of 217,000oz gold at All-In
Sustaining Costs of less than US$600/oz in its first five years of mine life.
The AMS scope of work includes a full suite
of open pit mining services – including site preparation, drill and blast, load
and haul, and maintenance works – over a five year term, generating
approximately AUD$235 million in revenue under a schedule of rates contract.
AMS anticipates it will employ
approximately 190 personnel at the project, with the workforce to be predominantly
local. AMS expects to use a mix of new and existing equipment to deliver on the
project.
AMS and West African Resources are in the
process of finalising the contract terms, which will include the provision of
an optional deferred payment arrangement for up to US$10m at a commercial
interest rate, with works expected to commence in early CY2020.
Perenti Managing Director, Mark Norwell, said:“A key focus for the group has been to enhance our surface operations in Africa and target substantial growth opportunities across a range of commodities in select African countries.
“Being selected as preferred contractor at the Sanbrado Gold Project is a significant achievement and represents the excellent progress we are making in building on the suite of quality projects on which AMS operates in the region.”
Ausdrill Surface CEO, Scott Winter, said: “The
Group has been operating in Africa for almost 30 years and we will draw on our
leading expertise in open pit contract mining to deliver on this exciting new
gold project for West African Resources.”
West African Resources Managing Director, Richard Hyde, said: “Sanbrado is the highest margin gold project in construction in West Africa and we are on target for approximately 300,000 ounces of gold in the first 12 months of production. We look forward to partnering with AMS to bring this fully funded project into production in mid-2020.”
Diversified mining services company Perenti Global Limited (ASX: PRN) is pleased to announce its subsidiary, leading hard-rock underground miner Barminco, has been awarded a 5-year underground mining services contract at the Zone 5 Mine in Botswana from Khoemacau Copper Mining (Pty) Limited (Khoemacau) worth approximately A$800 million.
Perenti Managing Director Mark Norwell said: “We are very pleased to have been awarded this significant contract in Botswana, a highly desirable country to do business in Africa. This contract award is further endorsement of our acquisition of Barminco and its strong contribution to our international growth strategy.”
Khoemacau’s Zone 5 operation is a new,
large and long-life mine development project located in the highly-prospective
Kalahari copper belt in Botswana. Barminco’s scope of services includes mine
development, establishment of underground mine infrastructure, diamond drilling
and mine production at an initial rate of 3.6 million tonnes per annum of
copper ore with multiple expansion opportunities.
Barminco will commence mining services in
December 2019. In awarding the contract, Cupric Canyon Capital and Khoemacau
Chief Executive Officer Johan Ferreira said: “We are delighted to partner with
Barminco at Zone 5 to create a safe, largescale, highly productive and fully
mechanised mine, delivering high quality employment and sustainable skills
development and employment outcomes for Botswana citizens.”
Barminco Chief Executive Officer Paul
Muller said: “In addition to excellent safety, quality and productivity
outcomes at Zone 5, success will also be measured by the creation of a highly
skilled local workforce through effective training, skills transfer and leading
technology programs.”
Diversified mining services company Perenti Global Limited (ASX: PRN) is pleased to announce its earthmoving parts and equipment subsidiary, BTP, has been awarded a three-year extension worth $126 million to its existing contract with Peabody Australia. Under the extension BTP will continue to rent mining and ancillary equipment to Peabody’s coal mines located in the Hunter Valley and Bowen Basin.
BTP has been working as a key partner with Peabody since April 2015. This three-year contract extension is effective from 1 April 2019, with Peabody having an option to extend this by a further two years.
Perenti Managing Director, Mark Norwell, said: “We are delighted to have been awarded this contract extension and look forward to continuing to provide equipment and related services to Peabody, building on the strong relationship BTP has formed with Peabody over a number of years.” Peabody (NYSE: BTU) is the leading global pure-play coal company and a member of the Fortune 500, serving power and steel customers in more than 25 countries on six continents.
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WHAT WE DOWe’re experts in hard rock surface and underground mining, drilling services, mining services and have a focus on future technology solutions.
INVESTORSOur focus is to deliver shareholder returns by building a portfolio of complementary businesses that deliver consistent and quality cash backed profits.
