Perenti secures contract extension at the Mako Gold Mine in Senegal Posted on December 22, 2022January 17, 2023 by prnadmin Perenti is pleased to announce that its surface mining business in Africa, African Mining Services (AMS) has been awarded a contract extension for surface mining activities, including load and haul, drill and blast, grade control and crusher feed, at Resolute Mining’s Mako Gold Mine in Senegal. The contract is valued at approximately US$185 million over a period of four years, commencing 1 January 2022. Through AMS, Perenti has provided surface mining activities at the Mako mine since 2017. This contract extension includes updated commercial conditions and in-line with Perenti’s Capital Management Policy, the Company will optimise the management of existing fleet and equipment at the project, which is forecast to have a low capital expenditure requirement and generate sustainable returns. The extension of the Mako contract does not have a material impact on Perenti’s FY23 guidance, which remains unchanged and as announced on 19 December 2022. Mark Norwell, Managing Director & CEO of Perenti said “The Mako project has been a part of the AMS portfolio for several years and we are pleased that our strong operational performance and relationship with Resolute Mining, has allowed us to execute this contract extension, which supports our 2025 Strategy. We are confident that our dedicated, predominantly local workforce will continue to deliver value for our client. We look forward to continuing our relationship with Resolute Mining at the Mako project as we seek to deliver enduring value and certainty for all our stakeholders.”
Perenti announces FY23 guidance upgrade Posted on December 19, 2022December 19, 2022 by prnadmin For the second time this financial year, we are pleased to provide an operational update and deliver an upgrade to our FY23 guidance. Since the initial guidance revision in November, Perenti has continued positive momentum, securing improvements to commercial conditions across a number of Australian and African projects. In addition, our subsidiary Barminco has been awarded a new contract at Evolution’s Ernest Henry underground gold and copper mine in Queensland as well as secured a variation to expand its work scope at Regis Resources’ Garden Well mine. As a result of these positive developments, the revised FY23 guidance now puts expected revenue between $2.7 billion and $2.9 billion and EBIT(A) between $230 million and $250 million. Perenti CEO and Managing Director, Mark Norwell said: “Together, over the last four years, our 9,000 dedicated employees have been unrelenting in delivering on our purpose of creating value and certainty for our stakeholders. Over these four years, by being smarter together and by taking no shortcuts, Perenti has navigated a period of unprecedented uncertainty and, whilst challenges still exist, we are now seeing the significant effort of our people translate into value upside to our shareholders.” He added, “In addition to generating greater returns in FY23, we are focused on continuing to pursue business and project optimisation initiatives which will facilitate the delivering our 2025 strategy. Our Strategy is designed to drive positive momentum in shareholder value well into the future. Perenti’s outlook is underpinned by our world class Contract Mining Division, and the continued development of our Mining Services and idoba Divisions. Our focus on generating enduring value for our people, clients and communities, will ensure we continue to deliver sustainable returns for our shareholders.” You can read the full story in our Investor Centre.
