Perenti’s underground mining business, Barminco, has finalised discussions regarding the existing five-year mining services contract for the Khoemacau copper mine in Botswana with Khoemacau Copper Mining Proprietary Limited, a subsidiary of MMG Limited, it says.

Barminco has been operating at Khoemacau since the mine commenced in 2019, initially winning the services contract when the mine was owned by Cuprous Capital Ltd.

Barminco is working to deliver on the current mine plan while MMG explores potential expansion opportunities at Khoemacau, Perenti says.

The remaining contract value is circa-A$240 million ($162 million) with the existing contract set to continue, on revised terms, until June 30, 2025. Barminco will continue to provide underground development, production and mining support services at the mine.

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said “We are pleased to continue working at Khoemacau. The expansion under consideration has the potential to supply increasing global demand for copper and we are proud to be working with MMG as they assess various future opportunities.”

Gabrielle Iwanow, President of Contract Mining at Perenti, said: “The continuation of this contract enables the Barminco team to continue working at Khoemacau under revised terms. The region surrounding the operations includes multiple resources beyond the current scope. Cumulatively, these resources have potential to support much higher production and maintain many years of mine life. We look forward to working with MMG to continue high quality operations at Khoemacau.”