Tag: Agnew

Barminco signs A$500M Agnew contract with Gold Fields Limited 

Posted on by prnadmin

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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Perenti secures A$420 million of contract extensions

Posted on by prnadmin

Perenti has announced its underground mining businesses have been awarded contract extensions valued at ~A$420 million. The contract extensions include:

  • A 12-month ~$125 million contract extension to continue underground development and production works at the Gold Fields Agnew underground gold mine.
  • A 12-month ~A$180 million contract extension at the AngloGold Ashanti plc’s Obuasi underground gold mine in Ghana.
  • A 2-year ~A$115 million, contract extension of existing underground development and production works at the Roxgold Inc. Yaramoko underground gold mine in Burkina Faso. Importantly, under the terms of the contract, no new growth capital is required for the execution of this contract extension.

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said, “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 the 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.”

Gabrielle Iwanow, President Contract Mining said, “In my first few weeks at Perenti, I have been very impressed with the team’s technical capability and the operational performance that they deliver to our clients. I believe that it is these factors that underpin the strength and depth of our relationships.

“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.”