Barminco signs A$500M Agnew contract with Gold Fields Limited
We are pleased to announce that our underground mining subsidiary, Barminco, has signed a new contract to continue underground mining operations at the Agnew Gold Mine (‘Agnew’) for Gold Fields Limited.
Agnew is near Leinster, Western Australia and includes multiple underground operations. Barminco has been successfully providing underground mining services at Agnew since 2010 and employs over 300 people across the site. As part of this renewal, development and production undertaken by Barminco has been agreed for another 3-years plus a 1-year extension option.
Contract details include:
- Contract value: Circa AUD $500 million.
- Contract term: 36 months from 1 January 2025 and option to extend for an additional 12 months.
- Services: Underground development, production and related mining services.
- Capital requirement: Included in FY25 capital guidance
Mark Norwell, Managing Director & Chief Executive Officer of Perenti 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 longstanding 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.”
Gabrielle Iwanow, President of Contract Mining at Perenti 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.”
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