Perenti is pleased to announce that Barminco has been awarded a new development contract with Spartan Resources and extensions to four existing projects. The scope of the Spartan Resources contract includes the construction of an underground exploration drill drive at the Dalgaranga Gold Project in the Murchison region of Western Australia. The drive has been designed to run in parallel and adjacent to the mineralised gold zones of Never Never, Pepper, Four Pillars and West Winds, to facilitate underground exploration and subsequently support future production plans.

Construction of the drive is due to start in the current quarter and is expected to take 10 months to complete. It will utilise a combination of existing capital equipment and an additional A$5m of new growth capital.

In addition to the Dalgaranga Project, extensions to contracts have also been signed for the following projects:

• Siou and Wona underground at the Mana gold mine for Endeavour Mining in Burkina Faso.
• An existing copper and gold underground mining project in Canada.
• Spotted Quoll nickel mine for IGO in Australia.
• Mt Colin copper mine for Aeris Resources in Australia.

In combination, these projects are expected to contribute approximately A$160 million of revenue to FY25. The project extensions do not require new growth capital.

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said, “The greenfield underground at Dalgaranga project is an exciting opportunity. The resource has the potential to grow into a high-grade gold mine and we look forward to supporting Spartan Resources to achieve their targets during the months ahead.

“In addition, the four contract extensions are another example of the 90%+ success rate the Contract Mining division has in extending and renewing contracts. Maintaining client relationships is critical to our long-term success, so we always strive to find ways to deliver value to our clients when possible.”

Gabrielle Iwanow, President of Contract Mining at Perenti said, “We are pleased to be working with Spartan Resources on the new underground Dalgaranga Gold Project in Western Australia. Barminco has a long history of working with Western Australian gold producers and we look forward to building an excellent relationship with their team as they advance towards production.”