Perenti awarded $393 million contract at Regis Resources' Duketon Operations

Perenti Limited (ASX: $PRN) has announced that its underground mining business Barminco has been awarded a new contract for the provision of mining services at Regis Resources Limited's (ASX: $RRL) Duketon Operations in the Goldfields region of Western Australia. The alliance style agreement has a contract value of A$393 million based on an initial 3-year term, with services including underground development, production, and support services. The contract term is a rolling 3-year term extended annually, commencing 1 April 2024.

Executive Commentary on the Contract Award

We're very pleased to continue our partnership with Regis Resources at the Duketon Operations where Barminco has been providing value to our client through both development and production works since February 2019. This award adds Australian based underground earnings to our portfolio, which is aligned with the ongoing delivery of our strategy. Our people are at the heart of our success and their dedication, innovative thinking and highly skilled efforts have again resulted in the award of a significant contract with the third largest Australian gold producer on the ASX, at a great mine that is located right here in WA. We are proud to continue partnering with Regis Resources as we embark on this alliance style contract to further deliver on our purpose of creating enduring value and certainty.

Summary of the Contract Award and Outlook

Perenti's underground mining business Barminco has secured a significant alliance style agreement with Regis Resources at the Duketon Operations, reinforcing the partnership between the two entities. The A$393 million contract, based on an initial 3-year term, encompasses underground development, production, and support services, with no new growth capital required. The rolling 3-year term extended annually provides stability and continuity in the provision of mining services. The Managing Director & CEO, Mark Norwell, expressed satisfaction in adding Australian based underground earnings to their portfolio, aligning with the company's ongoing strategy delivery. The President of Contract Mining, Gabrielle Iwanow, emphasized the dedication, innovative thinking, and highly skilled efforts of their people that led to securing this significant contract. Perenti's commitment to creating enduring value and certainty is evident through this partnership and contract award, reflecting their strategic goals and focus on delivering value to their clients and investors.