Barminco wins $120m contract

Perenti’s underground mining services contractor Barminco has secured its inaugural US-based contract, valued at approximately $120 million.

On the back of booking a $180 million contract extension with Regis Resources last week, Perenti told the market that Barminco would further enhance its relationship with Barrick Gold Corporation by providing underground development and ground support services at the Goldrush project in Nevada.

Work within the three-year deal will begin this month. 

Goldrush – a new project development earmarked for 400,000 ounces of gold by 2028 – is operated by Nevada Gold Mines, a joint venture entity between Barrick and Newmont Corporation, which was established back in 2019. 

Barrick has a 61.5 per cent stake in Nevada Gold Mines, with Newmont controlling the remaining 38.5 per cent.

The joint venture encompasses a gold producing complex comprised of 12 surface mines and 10 underground mines, which is the largest set up of its kind in the world to date. 

“This win represents a milestone achievement for Barminco and our contract mining team as we execute our growth strategy,” Perenti president of contract mining Gabrielle Iwanow said.

“With an expanded operational footprint in North America, Barminco looks forward to continuing safe and productive operations for our clients in both the US and Canada.”

Perenti shares last changed hands at $1.39, up 1 per cent, as of 11.43am AWST.