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Perenti (ASX: $PRN) secures contract extensions worth A$420 million

Perenti's Contract Mining Division Awarded A$420 Million Contract Extensions


Perenti Limited (ASX: $PRN) has secured contract extensions valued at approximately A$420 million for its underground mining businesses. The extensions include a 12-month ~$125 million contract extension at the Gold Fields Agnew underground gold mine, a 12-month ~A$180 million contract extension at the AngloGold Ashanti plc's Obuasi underground gold mine in Ghana, and a 2-year ~A$115 million contract extension at the Roxgold Inc. Yaramoko underground gold mine in Burkina Faso. Mark Norwell, Managing Director & CEO, expressed satisfaction in continuing relationships with long-term clients and highlighted the focus on strategic objectives and safety in delivering for clients.

Executive Commentary on Contract Extensions


Mark Norwell, Managing Director & CEO of Perenti, expressed satisfaction in continuing relationships with long-term clients and highlighted the focus on strategic objectives and safety in delivering for clients. Gabrielle Iwanow, President Contract Mining, commended the team's technical capability and operational performance, emphasizing these factors as underpinning the strength and depth of their relationships. Norwell also mentioned the upcoming 1H23 results release in February, where progress on the integration of DDH1 will be provided.

Summary of Contract Extensions and Outlook


Perenti Limited (ASX: $PRN) has secured contract extensions worth approximately A$420 million for its underground mining businesses, reinforcing its relationships with long-term clients. The company's focus on strategic objectives and safety in delivering for clients has been emphasized by Mark Norwell, Managing Director & CEO. With nearly A$900 million of secured revenue for the business, including the recent contract awards, Perenti is positioned to work towards delivering its 2025 strategic objectives. The company's ambitions and goals are reflected in its continued efforts to create enduring value and certainty for investors, clients, people, and the communities in which it operates.

Sourcehttps://announcements.asx.com.au/asxpdf/20240118/pdf/05zjtq0qnfh9dc.pdf

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