Published: January 18, 2024 |

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Australia-based mining services company Perenti has secured contract extensions worth $275.8 million (A$420 million) for three different underground gold mines.

Awarded to Perenti’s underground mining businesses, the contract extensions are for the Gold Fields’ Agnew, AngloGold Ashanti’s Obuasi, and Roxgold’s Yaramoko underground gold mines.

The contract extension at the Agnew mine located in Australia is valued at approximately $82 million (A$125 million).

Under the contract extension, Perenti will continue underground development and production works at the Agnew underground gold mine for a period of 12 months.

Located in the Eastern Goldfields region, the Agnew mine site produces more than 250,000 ounces of gold each year.

Perenti’s contract at the Obuasi underground gold mine located in Ghana is also extended by 12 months. It is worth about $188 million (A$180 million).

Production at the Obuasi mine started in 1897 and stopped in the last quarter of 2014.

The contract extension of existing underground development and production works at the Yaramoko underground gold mine in Burkina Faso is for two years.

This contract extension, which is valued at $75.5 million ($A115 million), requires no new growth capital for the execution.

The Yaramoko mine consists of two deposits namely, the 55 Zone and Bagassi South.

In September last year, Perenti secured an open pit mining services contract from Sandfire Resources, for the A4 open pit within the Motheo Copper Mine in Ghanzi, Botswana.

“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,” said Mark Norwell, managing director and chief executive officer of Perenti.

“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,” said Gabrielle Iwanow, president Contract Mining.

“I am very proud to be leading and supporting the Contract Mining team as we collectively work towards delivering our 2025 strategic objectives,” added Iwanow.

Source: NS Energy

Perenti is a diversified mining services group with interests in contract mining, drilling services, mining services, and technology solutions. Headquartered in Perth and with offices and operations across four continents, they employ more than 11,000 people focused on creating enduring value for investors, clients, people and the communities in which they operate.

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