Perenti subsidiary lands $300m contract from Ramelius Resources
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The news: Mining services group Perenti's subsidiary Barminco has secured a four-year contract to deliver underground mining services at Ramelius Resources’ Dalgaranga Gold project.
It builds on work completed for Spartan Resources before it was acquired by Ramelius.
The numbers: The contract is worth about $300 million and initially runs over 48 months. There is also the option to extend the contract for an additional 12 months.
The contract will require about $16 million of growth capital in FY26, which was included in recent guidance.
The context: The contract builds on underground exploration decline development that Barminco previously completed at Dalgaranga with Spartan Resources. A decline is a sloping access tunnel for an underground mine.
What they said: “Several recent regional contract wins have built scale for the Barminco Australia business, which ultimately delivers benefits for both our clients and shareholders,” Perenti managing director and CEO Mark Norwell said.
“The Dalgaranga project will further support our Australian earnings and sustainable cash generation.”
The source: ASX
