Australian miner Perenti secures $235m in new and extended contracts

21 February 2020 (Last Updated February 21st, 2020 11:28)

Australian mining firm Perenti has secured new and extended contracts worth over A$355m ($235m) through its subsidiary Barminco, as well as its division Surface Mining Industry Sector Group (ISG).

Australian miner Perenti secures $235m in new and extended contracts
The Savannah project is a nickel-copper-cobalt (Ni-Cu-Co) mine located in the East Kimberley region of WA. Credit: Perenti Global Limited (Perenti).

Australian mining firm Perenti has secured new and extended contracts worth over A$355m ($235m) through its subsidiary Barminco and its division Surface Mining Industry Sector Group (ISG).

It includes a contract secured by Barminco from Panoramic Resources at the Savannah project in Western Australia (WA), worth approximately $200m ($132m).

The project is a nickel-copper-cobalt (Ni-Cu-Co) mine located in the East Kimberley region, which is 110km north of Halls Creek.

Under this contract, Barminco will undertake mine development, production, and haulage at the project. The contract will be executed over a period of three years.

Perenti noted that the contract is expected to employ around 170 people.

Panoramic Resources managing director and CEO Victor Rajasooriar said: “The execution of a mining contract with leading underground services provider Barminco, represents a significant step forward for the Savannah Nickel Mine and Panoramic.

“We now look forward to delivering a rapid and efficient transition to Barminco run operations. With their proven expertise, we are confident that underground mining productivities at Savannah are set to improve significantly over the coming months.”

Barminco has been holding talks with Panoramic over recent weeks to develop a mobilisation plan and will begin contract mining early next month.

Meanwhile, Perenti’s ISG secured more than A$155m ($102.7m) in new and extended contracts, both in Australia and Africa.

Perenti Group managing director Mark Nowell noted that the contracts reflect the company’s ability to deliver quality work across its diverse surface portfolio.

Last month, Panoramic Resources chose Barminco as its preferred underground contractor for the Savannah project.