Perenti subsidiary African Mining Services (AMS), operating through the AMAX joint venture (JV), is set to sell its mining fleet to AngloGold Ashanti.

The sale is part of an agreement signed with AngloGold Ashanti to implement a transition plan at the Iduapriem Gold Mine in Ghana.

AMS will sell its mining fleet at the site after the current contract period ends.

The mining business has delivered services at the open-pit Iduapriem mine since 2018, together with its local JV partner MaxMass.

Under the new agreement, AMAX will continue to provide surface mining and related services until the contract concludes, which is expected to be approximately six months from 17 July 2026.

Perenti contract mining president Gabrielle Iwanow said: “Finalising the Iduapriem transition agreement with AngloGold Ashanti is another important step for the evolution of our contract mining portfolio.

“The AMS team is justifiably proud of the performance delivered at Iduapriem over the last eight years and remains committed to delivering the same professional services until the handover of operations.”

Upon completion of the contract, a significant portion of the AMS-owned equipment at Iduapriem will be transferred to AngloGold Ashanti.

The valuation method for the fleet sale was agreed in the contract, with AMS anticipating sale proceeds of between A$30m ($21m) and A$40m.

The contract has a value of around A$95m.

Perenti managing director and CEO Vanessa Torres said: “I am pleased we have reached an agreement for the transition at Iduapriem, reflecting AMS’ long-standing record of strong operational delivery and enduring partnerships across Africa.

“Additionally, the agreed sale of equipment at the end of the contract provides certainty and the opportunity to recycle capital within Perenti.”

In April this year, Perenti extended its contract with Regis Resources to continue providing underground mining services at the Duketon Operations in Western Australia.