Tag: gold

Barminco secures A$300M Dalgaranga contract with Ramelius Resources

Posted on by prnadmin

We are pleased to announce that our underground mining business, Barminco, has been awarded a four-year contract for underground mining services at the Dalgaranga Gold Project. The project is owned by Ramelius Resources following completion of its acquisition of Spartan Resources.

This new contract follows the successful underground exploration decline at Dalgaranga completed by Barminco to progress in-fill and mineralisation extension drilling. This decline will now be used to support production and further development.

The new contract details are:

· Contract value: Circa A$300 million

· Contract term: 48 months, with a 12-month option to extend

· Services: Underground development, production and related mining services

· Capital requirement: Circa $16 million of growth capital required in FY26, included in recent guidance

Mark Norwell, Managing Director & CEO of Perenti said, “Securing a four-year contract for underground mining at the Dalgaranga Gold Project is another strong result for Barminco. Several recent regional contract wins have built additional scale for the Barminco Australia business, which ultimately delivers benefits for both our clients and shareholders. The Dalgaranga project will further support our Australian earnings and sustainable cash generation. We look forward to delivering enduring value and certainty for Ramelius and appreciate the opportunity.”

Gabrielle Iwanow, President of Contract Mining at Perenti said, “I’m proud of the Barminco team for the successful contract award for development and production at Dalgaranga for Ramelius. The longer-term contract is validation of the high-quality work that has been completed at Dalgaranga to date. I look forward to the Barminco team continuing to deliver safe and reliable production for Ramelius for years ahead.”

Explore more at our Investor Centre

Barminco awarded underground contract at Great Fingall for Westgold Resources

Posted on by prnadmin

We are pleased to announce that our underground mining business, Barminco, has been awarded a new contract by Westgold Resources for the provision of underground mining services at the Great Fingall project, located near Cue in Western Australia. 

The three-year contract is valued at approximately A$200 million, with the scope of works including mine development, production, and associated underground mining services. Mobilisation is expected to commence in July 2025.  

This contract further strengthens Barminco’s Australian underground portfolio and contributes to secured work in FY26 and beyond. Contract details include: 

  • Contract value: Circa A$200 million 
  • Contract term: 36 months, with a 12-month option to extend  
  • Services: Underground development, production and related mining services 
  • Capital requirement: Approximately $16 million of growth capital in FY26 

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said, “We are excited to be partnering with Westgold on the Great Fingall project. This award highlights the depth and scale of Barminco’s mining and technical capability and supports the ongoing focus of growing our underground mining business in Australia and select regions internationally. This project further increases Australian earnings for Perenti and supports our ongoing focus on year-on-year sustainable cash generation. We look forward to delivering value for Westgold through our collaborative approach and focus on operational excellence.” 

Gabrielle Iwanow, President of Contract Mining at Perenti said, “We are proud to mark the beginning of a new relationship between Westgold and Barminco on the Great Fingall project. Westgold’s decision is an endorsement of the strength of our technical capability and our commitment to safe and efficient operations. We look forward to building a strong partnership that delivers value for both companies and the communities in which we operate.” 

Explore more at Perenti Investor Centre.

AUMS, through UMA JV secures A$1B Obuasi mining contract with AngloGold Ashanti

Posted on by prnadmin

We are pleased to announce that African Underground Mining Services Limited (AUMS) via the Underground Mining Alliance joint venture, has signed a new five-year contract for delivery of underground mining services at the Obuasi Gold Mine for AngloGold Ashanti.

Obuasi is in the Ashanti region of Ghana and AUMS has a history of operation at the Obuasi mine since February 2019. 

Contract details include: 

  • Contract value: Circa A$1,020 million. 
  • Contract term: 60 months from 1 February 2025. 
  • Services: Underground development, production and related mining services. 
  • Capital requirement: No new growth capital required as AGA provides major capital expenditure. 

Mark Norwell, Managing Director & Chief Executive Officer of Perenti, stated, “We are pleased to sign the Obuasi contract with AngloGold Ashanti (AGA) for an additional five years. We highly value our relationship with AGA and look forward to continuing and deepening our positive working relationship. This agreement is a testament to the reliability and value provided by our Contract Mining division. Our extensive operational experience and the scale of our global underground business enables us to consistently deliver enduring value and certainty to our clients and shareholders.”  

Gabrielle Iwanow, President of Contract Mining at Perenti said “Our relationship with AngloGold Ashanti is of great importance to our Contract Mining division. As one of the world’s largest gold miners, we are proud to work alongside them in a collaborative manner. We look forward to continuing to grow our relationship with them over the years ahead and supporting them to meet their business objectives.” 

Explore more through our Investor Centre.

Barminco secures underground contract extension with Barrick at Hemlo, Canada

Posted on by prnadmin

Perenti is pleased to announce that its underground mining business, Barminco, has signed a three-year contract with Barrick Gold Corporation to continue contract mining at the Hemlo gold mine in Canada.

Hemlo is located 350 kilometres east of Thunder Bay in Ontario, Canada and has been in production since 1989. In 2019, Barrick transitioned the operation to a contract mining model from owner operator, and Barminco has been the main underground contractor since. The contract is initially for 36 months, but also includes two 12-month options to extend. If these options are exercised, Barminco will be operating at Hemlo until 2029.

Under the terms of the existing contract, Barrick owns the current fleet of underground equipment and will procure any additional fleet required for the mine. This significantly reduces the capital intensity of the project for Barminco. The total contract value is worth more than AUD$200 million and involves underground mine development, production and mining support services.

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said “The continuation of our relationship with Barrick at the Hemlo gold mine for at least the next three years is another great example of how our Contract Mining team extends contracts over the life of a mine operation. The long-term nature of these relationships is built on a foundation of creating enduring value and certainty for our clients. This aligns our operational success with the goals of our clients and creates a collaborative working environment.

“The low capital intensity of this project is one of several capital light contracts we operate across the organisation, with our first capital light contract secured in 2018.”

Gabrielle Iwanow, President of Contract Mining at Perenti said “We are pleased to continue working with Barrick and demonstrating our leading underground capability in the North American market. Barrick is an important client for Barminco and we look forward to continuing to partner with them to deliver safe production at Hemlo.”

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