Barminco inks $500m contract

Perenti’s (ASX: PRN) underground mining subsidiary, Barminco, has signed a new contract to continue underground mining operations at the Agnew gold mine for Gold Fields.

Agnew is near Leinster, WA and includes multiple underground operations.

As part of the renewal, development and production undertaken by Barminco has been agreed for another 3-years plus a 1-year extension option.

Perenti managing director and chief executive Mark Norwell says the company is pleased to be extending its relationship with Gold Fields at the Agnew gold mine.

“Gold Fields is one of our most longstanding and valued clients, with history of more than 30 years working alongside the various Perenti businesses,” he said.

“Our Australian operations are important for Barminco to deliver enduring value and certainty for our clients and shareholders.

“Maintaining long-term contracts with high-calibre clients such as Gold Fields supports continued delivery of reliable earnings for the business.”

Perenti contract mining president Gabrielle Iwanow says Barminco has successfully ramped up development and production at Agnew in recent years.

“We very much value the relationship with Gold Fields and we look forward to continuing to deliver safe and productive underground services through our highly capable team in Australia,” she said.