Barminco awarded mining contract extension with AngloGold Ashanti

The contract extension outlines:

• Contract value: AUS$450 million.
• Contract term: 3 years with commencement date from 1 October 2024.
• Services: Underground development, production, and mining support services.
• Capital requirement: No new growth capital expenditure required.

Mark Norwell, Managing Director and Chief Executive Officer of Perenti, said: “AngloGold Ashanti is one of our largest clients, and we are proud to have worked with them for the past 20 years. Perenti has an excellent track record at extending existing contracts which we attribute to our collaborative relationship with our clients. Successful maintenance of our long-term relationships ultimately supports our business, as continuation of contracts does not require the upfront capital expenditure of new contracts. Ultimately this supports generation of free cash flow which continues to be a key focus of our strategy.”

Gabrielle Iwanow, President of Contract Mining at Perenti, said: “Our people are at the heart of our success and their dedication, innovative thinking, and highly skilled efforts have again resulted in the award of a significant contract for a long-standing client within a great mine in Western Australia. We are proud to have partnered with AngloGold Ashanti for over two decades, delivering on our purpose of creating enduring value and certainty.”

Read the article online at: https://www.globalminingreview.com/exploration-development/25062024/barminco-awarded-mining-contract-extension-with-anglogold-ashanti/