Perenti JV secures A$1bn Obuasi contract extension with AngloGold
ASX-listed Perenti’s African Underground Mining Services, through its joint venture (JV) with Underground Mining Alliance, has secured a five-year extension to its underground mining contract at AngloGold Ashanti’s Obuasi gold mine in Ghana, valued at about A$1.02-billion.
The contract will run from February 1, 2025, and covers underground development, production, and associated mining services at the Obuasi operation in the Ashanti region.
No additional growth capital will be required from Perenti, as AngloGold Ashanti is providing the major capital expenditure.
“We are pleased to sign the Obuasi contract with AngloGold Ashanti for an additional five years,” said Perenti MD and CEO Mark Norwell.
“We highly value our relationship with AngloGold Ashanti and look forward to continuing and deepening our positive working relationship. This agreement is a testament to the reliability and value provided by our contract mining division. Our extensive operational experience and the scale of our global underground business enables us to consistently deliver enduring value and certainty to our clients and shareholders.”
Perenti has operated at Obuasi since 2019. “Our relationship with AngloGold Ashanti is of great importance to our contract mining division,” said Gabrielle Iwanow, president of contract mining at Perenti.
“As one of the world’s largest gold miners, we are proud to work alongside them in a collaborative manner. We look forward to continuing to grow our relationship with them over the years ahead and supporting them to meet their business objectives.”
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