Perenti Ltd has announced that its underground mining business, Barminco, has been awarded a three-year extension of its mining services contract at AngloGold Ashanti’s Sunrise Dam underground gold mine in the Goldfields of Western Australia. The A$450 million contract is for three years commencing October 1, 2024 and includes underground development, production and mining support services. No new growth capital expenditure is required.

Mark Norwell, Managing Director & 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.”