Westgold Resources (ASX:WGX) has awarded Perenti’s (ASX:PRN) underground mining business, Barminco, a three-year contract valued at $200 million. The agreement covers development and production at the Great Fingall Mine in Western Australia. Westgold Resources is an established Australian gold producer with a portfolio of growth projects in Western Australia. Perenti is a diversified mining services company involved in contract mining, drilling, mining support, and technology solutions.
The scope of work encompasses mine development, production, and associated underground mining services. Mobilisation is expected to commence in July 2025. Perenti CEO Mark Norwell stated that this award highlights Barminco’s technical capability and supports the company’s focus on growing its underground mining business. Norwell also noted that this project will increase Australian earnings for Perenti and contribute to sustainable cash generation.
President of Contract Mining at Perenti, Gabrielle Iwanow, views Westgold’s decision as an endorsement of the company’s technical strength. Westgold, with a market capitalisation of $2.74 billion, will redeploy its team and equipment from Great Fingall to its larger, owner-operated mines. These include the Beta Hunt mine in the Southern Goldfields and the Bluebird-South Junction mine in the Murchison region.
Westgold CEO Wayne Bramwell says that the company is focused on increasing mine productivity and leveraging its extensive capital base. He noted that the Great Fingall mine is smaller, making it suitable for contract mining. First production from Great Fingall under this contract is anticipated in early FY26.
