Perenti's Barminco finalizes continuation of mining contract at Khoemacau Copper Mine

Perenti Limited (ASX: $PRN) has announced that its underground mining business, Barminco, has finalized discussions with Khoemacau Copper Mining Proprietary Limited, a subsidiary of MMG Limited, to continue the existing 5-year mining services contract for the Khoemacau Copper Mine in Botswana. The remaining contract value is approximately AUD$240 million, and the contract will continue on revised terms until 30 June 2025. The services provided include underground development, production, and mining support services, with no additional capital requirement beyond the existing budget.

Executive Commentary on Continuation of Mining Contract at Khoemacau Copper Mine

We are pleased to continue working at Khoemacau. The expansion under consideration has the potential to supply increasing global demand for copper, and we are proud to be working with MMG as they assess various future opportunities. The continuation of this contract enables the Barminco team to continue working at Khoemacau under revised terms. The region surrounding the operations includes multiple resources beyond the current scope, which have the potential to support much higher production and maintain many years of mine life. We look forward to working with MMG to continue high-quality operations at Khoemacau.

Summary of Perenti's Continuation of Mining Contract at Khoemacau Copper Mine

Perenti's Barminco has finalized discussions to continue the 5-year mining services contract at the Khoemacau Copper Mine in Botswana. The contract, with a remaining value of approximately AUD$240 million, will continue on revised terms until 30 June 2025, encompassing underground development, production, and mining support services. The company is optimistic about the potential expansion opportunities at Khoemacau to meet the growing global demand for copper. Perenti looks forward to collaborating with MMG to maintain high-quality operations and explore future opportunities at Khoemacau.