METS

Perenti Global wins $300M in new contracts

Perenti Global has secured more than A$307 million in new work and contract extensions in Australia.

Staff reporter
Perenti Global wins $300M in new contracts

Subsidiaries Barminco and Ausdrill picked up six contracts in Western Australia and New South Wales.

Barminco won its first contract in New South Wales with the award of an eight-month contract by Evolution Mining for the Cowal gold mine.

"We are excited by the award of the new eight month decline development contract with Evolution Mining at the Cowal gold operations as it represents our first underground mining contract in New South Wales," Perenti Mining CEO Paul Muller said.

"Furthermore, we are pleased to have been engaged by Evolution Mining to participate in the early contractor involvement (ECI) process as part of the Cowal underground feasibility study."

The underground contractor also won a 21-month contract for decline development at Gold Fields' Wallaby mine at Granny Smith in WA, while Ausdrill picked up a three-year exploration drilling contract, with an option to extend, at Gold Fields' St Ives gold mine.

Gold Fields has been a client since 2003.

Western Areas awarded a 27-month contract extension for underground mining services at the Flying Fox nickel operation and a 45-month extension at the Spotted Quoll nickel mine.

"In September 2020, we announced a new, $200 million, five year contract with Western Areas for their Odysseus development," Muller said.

"It is exciting to further strengthen that relationship with contract renewals that support mine life extensions for their Flying Fox and Spotted Quoll mines, both part of its Forrestania nickel project.

"Barminco has been supporting Western Areas since 2005 and the extent and length of our relationship is testament to the trust and confidence Western Areas has in Barminco's ability to continue to deliver value for them."

Ausdrill won three-year extension for drilling services at Consolidated Minerals' Woodie Woodie manganese mine in WA.

Perenti said the outlook was strong.

"We are targeting a strong pipeline of surface and underground work and I am pleased at how we are continuing to convert these opportunities into secured contracts across a range of different projects in Australia, our largest operating country by revenue," CEO Mark Norwell said.

Perenti shares were unchanged yesterday at $1.40, valuing the company at $986 million.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.