Shares in Perenti have increased by 3.1 per cent following the announcement that its subsidiary, Barminco, has been awarded a significant contract. Barminco will provide underground mining services at Ramelius Resources’ Dalgaranga gold project located in Western Australia. The four-year contract is valued at approximately $300 million.
Perenti is a diversified mining services group providing expertise in surface mining, underground mining, and mining support services. Barminco, as part of the Perenti Group, specialises in underground mining solutions. The contract is set to initially run for 48 months, with a provision to extend the agreement for an additional 12 months, potentially increasing the overall value and duration of the partnership.
Perenti chief executive Mark Norwell commented on the contract win, highlighting the strategic importance of recent regional acquisitions. He stated that these wins have expanded the Barminco Australia business, creating advantages for both clients and shareholders. Norwell further noted that the Dalgaranga project will bolster the company’s Australian earnings and contribute to sustainable cash flow generation.
The new Dalgaranga project will further consolidate Perenti’s presence in the Australian mining sector. The company aims to deliver considerable value to Ramelius Resources through its underground mining services while enhancing its financial performance.
