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Perenti wins over $350m in new contracts

The Savannah mine. Image: Panoramic Resources.

Global mining services company Perenti has secured new contracts worth over $350 million through subsidiary, Barminco, as well as via its surface mining division.

Barminco has been awarded a circa $200 million contract by Panoramic Resources at the Savannah project in the Kimberly region, Western Australia.

As part of the contract, Barminco will undertake mine development, production and haulage over a three-year term at the nickel-copper-cobalt project, with approximately 170 people expected to be employed.

Panoramic recommenced operations at Savannah in December 2018. Barminco, which has been in discussion with Panoramic over recent weeks to develop a mobilisation plan, will commence contract mining in early March.

Perenti also announced that its Surface Mining Industry Sector Group (ISG) has been awarded over $155 million in new and extended contracts, both in Australia and Africa.

Mark Nowell, managing director of Perenti, believes the contracts reflected the company’s ability to deliver value for its clients by performing quality work across the group’s diverse surface portfolio.

“We have been targeting a strong pipeline of surface and underground work and I am pleased we continue to convert these opportunities into secured contracts across a range of different projects in both Australia and Africa,” Nowell said.

“These latest awards add to $165 million in surface work we announced in December 2019 and the $200 million contract we recently announced for our Underground ISG.”

Perenti has also responded to media speculation regarding a potential divestment of its BTP earthmoving and equipment business.

While the company said it was reviewing its portfolio of businesses, BTP was valued by the group.

Perenti admitted it had considered a sale of BTP but said it would only sell if it received a binding offer that made sense for the company and its shareholders, which had not occurred.

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