Perenti secures underground mining contract from Bellevue Gold for $850m
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The news: Bellevue Gold has awarded a contract to Perenti’s underground mining business Barminco for its Western Australian gold project.
The context: The $850 million contract will span four years, with an option to extend for an additional year. Under the agreement, Barminco will provide all underground mining services to support Bellevue’s ongoing development and production activities.
The company stated that an estimated $75 million in growth capital will be required in FY27.
What they said: “This contract award reinforces Barminco as a global leader in underground mining, further strengthening Barminco’s underground mining portfolio and earnings in Australia,” Perenti CEO Mark Norwell said.
“This award supports our strategy to deliver sustainable cash generation and future earnings growth,” he added.
The source: ASX
