Tragic outcome in search for missing miners at Dugald River Posted on February 16, 2023March 3, 2023 by prnadmin Following a significant search and rescue operation at the Dugald River Underground Mine and further to recent announcements, it is with great sadness that Perenti advises of the tragic loss of our colleagues Trevor Davis and Dylan Langridge, the two previously missing Barminco employees. Managing Director & CEO of Perenti Mark Norwell said, “This is a devastating outcome and I want to extend my deepest sympathies and condolences to the families, friends, colleagues and loved ones of Trevor and Dylan, both of whom should have come home safely from work yesterday.” Yesterday morning, at approximately 125 metres below the surface, an incident occurred resulting in three Barminco employees, one in a drill rig and two in a light vehicle, falling approximately 15 metres into a void within a previously backfilled stope. The drill rig operator was rescued and received medical treatment for minor injuries. Tragically, through the rescue effort it has been confirmed that the two other Barminco employees, Trevor Davis and Dylan Langridge were fatally injured. Dylan Langridge was 33 years old and joined Barminco in March 2020 as a truck operator at Savannah before joining the service crew at Dugald River later that year. Dylan continued to progress his career at Dugald River and in October 2021 took up the role of charge up operator. Trevor Davis was 36 years old and joined Barminco in August 2020 as a shotcrete operator at Rosemont, before transferring to Dugald River as a charge up operator in November 2021. Both Dylan and Trevor were valued team members and well respected across both sites and the wider Barminco team. Mark Norwell added, “Our immediate and ongoing focus is on providing support to the families, friends and colleagues of Trevor and Dylan. “Barminco has been operating at MMG’s Dugald River mine since early 2012 with members of our workforce residing in the local area. This tragic incident is devastating and will have a lasting impact on not only the families and friends of Trevor and Dylan but also on the workforce of Dugald River, the Cloncurry and Mount Isa communities and the entire Perenti workforce. “The safety of our employees is an absolute priority for Perenti, as it is for the industry more broadly. I am devastated that the families and friends of our two workmates have lost their loved ones. This outcome is simply not acceptable. “In collaboration with MMG and the relevant authorities in Queensland, we will work to understand the circumstances behind this tragic incident and what additional measures need to be put in place to prevent this type of incident happening again. “We would like to thank everyone who worked tirelessly under very challenging conditions in the recovery of Trevor and Dylan. “The rescue operation has now sadly completed. Our primary focus is that of support for the families and colleagues of Trevor and Dylan and in parallel completing a comprehensive investigation.” Unless further material information comes to light, no further formal updates will be provided such that our full resources can continue to focus on supporting the families and conducting the investigation. We ask that the privacy of the families of Trevor and Dylan, and their work colleagues, is respected during this deeply distressing time.
Further update to the incident at Dugald River Posted on February 16, 2023March 3, 2023 by prnadmin Further to our announcement yesterday, Perenti provides an update in relation to the incident at the Dugald River underground mine in Cloncurry, Queensland. Rescue efforts continued overnight as Barminco worked closely with MMG and relevant authorities to undertake and progress the search and rescue operation. The rescue team have employed the use of drones, void scanning technology and video imagery and this has enabled them to locate the light vehicle that we believe the two missing employees were driving. The rescue team have been working throughout the night including with the use of heavy underground mining equipment to gain access to the vehicle. Managing Director & CEO of Perenti, Mr Norwell, said the highly skilled mine rescue team is focused on executing the rescue operation as quickly and safely as possible. “While the situation is still evolving, we are in contact with the family members of our missing team members and Perenti is providing support to their colleagues and rescue team. “Everyone at Perenti is feeling the impact of this incident and whilst we hold deep concerns for the safety of our colleagues, we continue to be hopeful that a positive outcome can be achieved.” We will provide further updates as relevant information becomes available. Incident at Dugald River 15 February 1730 AWSTFurther to the announcement made this morning, Perenti provides an update in relation to the incident that occurred earlier today at the Dugald River underground mine in Queensland.Unfortunately, two Barminco employees remain unaccounted for and the site emergency response team has been activated. Barminco is working closely with MMG and relevant authorities to undertake the search and rescue operation. We can confirm the following: Three of our employees were involved in an incident, approximately 125 meters below surface. Two separate vehicles, a light vehicle and a drill rig fell into a void in a previously filled stope. One of the employees, a drill rig operator, has been rescued and received medical attention for minor, non-life threatening injuries. We believe the two missing Barminco employees remain 125 meters below the surface and we are using drone technology to understand the specific conditions of the area. This will enable us to ensure the safety of the emergency rescue team. This drone is fitted with technology that can capture video and data regarding the size of the cavity where the light vehicle is located. The rescue will commence post analysis of the data and in accordance with a rescue management plan. Managing Director & CEO of Perenti, Mr Norwell, said the highly skilled mine rescue team is focused on executing a rescue operation as quickly and safely as possible. “Our teams have been operating MMG’s Dugald River mine since 2012 with much of our workforce residing in the local area. I know that a large proportion of the local Cloncurry community either work at the site or know someone who works at the site. My thoughts are with the families and friends of our two missing colleagues, and with the Cloncurry community.” “Everyone at Perenti is feeling the impact of this incident and we continue to be hopeful that a positive outcome can be achieved. While the situation is still evolving, Perenti is also providing support to family members and colleagues of our missing team members. We will provide further updates as relevant information becomes available.”
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 and ABB agree to jointly explore solutions to help mining customers decarbonise operations Posted on November 21, 2022November 21, 2022 by prnadmin Perenti has signed an agreement with leading global technology company ABB to collaborate and explore approaches to support net zero emissions targets for underground and open-pit mines. Experts from the two companies will work together to address electrification in mine hauling operations, power distribution, energy efficiency and power management. Perenti’s significant mining expertise and technical capability will be complemented by ABB’s technology expertise. Together, the teams plan to explore business models and solutions to provide wider services for pilot, brownfield and greenfield mining customer projects to support the electrification of operations. ABB has been calling for open collaboration within the mining industry and has taken action on several similar initial non-binding agreements to build commitments with original equipment manufacturers (OEMs), technology innovators and mining companies. Key relationships have subsequently been formalised, with technologies and solutions created as a result of these deals. “Mining customers are committed to facing environmental, societal and economic challenges head on as they aim to decarbonise mining operations,” said Joachim Braun, Division President, Process Industries, ABB. “With ABB’s sector leading position in electric-mine technology development, and Perenti’s excellence and experience in mine development and mine operations, the scope of this collaboration is a perfect opportunity to make real progress in providing electric solutions that will decarbonise the industry.” Mark Norwell, Perenti Managing Director & CEO with Joachim Braun, Divisional President, Process Industries, ABB “ABB and Perenti share a vision to develop energy efficient solutions for the mining industry,” said Mark Norwell, Managing Director & CEO, Perenti. “By combining our experience across mining operations and digital solutions with ABB’s leading technologies we are focused on supporting the decarbonisation of mining through electrification. We look forward to working with ABB on this exciting new venture.” ABB is committed to creating sustainable progress for today and for future generations by helping mining customers through their energy transition. ABB launched its ABB Ability™ eMine portfolio of technologies and methodologies last year, an approach to make the all-electric mine possible, with fully integrated electrification and digital systems from mine to port. Perenti is committed to acting on climate change through promoting innovation, developing and deploying low emissions technology and working with its clients to implement projects that improve energy efficiency and reduce emissions. You can read the full story in our Investor Centre.
Excellence in Mining – Winner Posted on September 9, 2022September 9, 2022 by prnadmin Perenti congratulates idoba’s President, Sarah Coleman, on winning the ‘Excellence in Mining Award’ at the national Women in Industry Awards night on Thursday 8th September at Doltone House, Jones Bay Warf, Sydney. The Women in Industry Awards recognise outstanding women from across a range of industrial sectors, including those who work in mining, transport, manufacturing, engineering, logistics, bulk handling, waste management, rail and construction and infrastructure. The ‘Excellence in Mining Award’ recognises an individual who has made a positive contribution to one of the many facets of the mining industry. Sarah has vast experience in mining and management consulting, with an impressive background spanning operations, improvement, innovation, technology, and asset management. Under Sarah’s leadership as President, idoba has grown through the strategic acquisitions of Optika Solutions, Orelogy, and Atmorphis, and is now a leading innovation ecosystem. “I’ve had an amazing opportunity over the last couple of years to really look at how we rethink, transform and disrupt the mining industry. In my view we can’t innovate without diversity and I’m very privileged to say that our team is over 40% female and we have a strong autistic and neurodiverse contingent in the team. Unlocking the potential of women in our industry has been a personal and professional passion of mine. It’s an incredible honour to be presented with the award and I am so excited to see current and future generations of excellent women bringing their unique ideas, perspective, and diverse skills to the mining and technology industries.” Sarah said. Sarah has previously been recognised for her excellence, including being named in WA Business News’ ‘40 under 40’ list, acknowledged as a female finalist for ‘Most Outstanding Young Professional’ by the Chamber of Minerals and Energy and named WA State Owner Manager of the Year by the Australian Institute of Management. Perenti Managing Director and CEO, Mark Norwell states,“We are extremely proud of Sarah and all of her achievements, both personal and professional. The work she has accomplished in bringing idoba to life is testament to her intelligence and dedication and it is great to see her hard work recognised at the Women in Industry Awards.” idoba is a technology driven service offering for Perenti and the mining industry, that leverages in-house technology and data expertise to add value to our global mining services activities. Perenti congratulates the Excellence in Mining finalists, Gina Rinehart and Maria Ruiz, as well as all other finalists and award winners from the Women in Industry Awards. To the full Excellence in Mining Award media release.
Perenti posts strong finish to FY22 and well positioned for further earnings growth in FY23 Posted on August 23, 2022August 23, 2022 by prnadmin Perenti has delivered strong FY22 financial and operational results, headlined by a significant step-up in 2H22 earnings, and continued improvement in leverage. Mark Norwell, Managing Director and CEO of Perenti, said: “Our strategic focus on maximising cashflow generation from our activities, effectively managing capital and driving operational performance, combined with the professionalism, dedication and resilience of our people, has enabled Perenti to deliver solid financial results for FY22, with a strong second half. “Our 9,000 employees continue to show dedication, passion and resilience, collectively contributing to our improving performance. On behalf of the Board and Group Executive Committee, I thank them for everything they have done in what remains a challenging environment. “We have continued to re-shape our business and are positioned to create a blended portfolio of complementary services through three operating divisions. This portfolio will be underpinned by our Contract Mining Division, which remains our core business and is the source of our major growth projects with globally recognised and respected brands. “Our portfolio also includes the divisions of Mining Services and idoba, which will both support our contract mining activities as well as provide strong medium and long-term growth opportunities in new and future facing services, with lower capital intensity. “Combined with a streamlined corporate centre, Perenti is positioned to deliver a step-up in cash backed profits in FY23, with further improvements expected to drive earnings growth through to FY25 and beyond.” For more information on Perenti’s FY22 Full Year Results visit our Investor Centre.
Perenti announces strategic investment in idoba by Sumitomo Corporation Posted on August 22, 2022August 22, 2022 by prnadmin Perenti is pleased to announce it has successfully executed a share sale agreement in relation to a strategic investment by Sumitomo Corporation (Sumitomo) in idoba, Perenti’s technology informed services business. The transaction further strengthens Sumitomo’s commitment to the idoba business, following the Memorandum of Understanding announced in February 2022. Under the Agreement, Sumitomo will acquire 10% of the issued shares in idoba for a total of $5.4 million. This implies a current idoba Equity Value of $54.0 million and Enterprise Value of $80.0 million reflecting the unique value proposition of the idoba ecosystem, and the significant embedded growth potential within both its consulting services and suite of Software as a Service products. Mark Norwell, Managing Director and Chief Executive Officer of Perenti, said that the strategic investment in idoba by a world class counterparty is in recognition of the embedded value of idoba within Perenti, and the substantial growth opportunity that the business represents. More information on the agreement can be found in our Investor Centre.
Perenti secures additional ~$520 million of Australian revenue with new Cowal Underground contract Posted on June 7, 2022August 31, 2022 by prnadmin Perenti is pleased to announce that its Barminco underground mining business has been awarded the contract for all underground development and production works for Evolution Mining’s Cowal Underground project in New South Wales. Barminco, a leading global underground mining services business, with operations in Australia, Africa and North America, is currently developing an exploration decline and conducting diamond drilling services at Cowal. The award of this new contract significantly expands Barminco’s scope at the site to include the development of a second portal, all underground development and production works, and associated underground mining services required to support the continued mill feed of underground ore. Mark Norwell, Managing Director and CEO of Perenti said the award of the Cowal contract aligns with Perenti’s strategy of increasing its earnings in top-tier regions and with top-tier clients. “The Cowal contract represents one of the largest underground mining projects in Barminco’s history, generating revenue of nearly $520 million with an initial term of four years, from a contract commencement date in early July 2022,” Mr Norwell said. “This contract award represents not only a significant expansion and continuation of our first underground contract in New South Wales but is also a fantastic opportunity for Perenti to build on our strong working relationship with Evolution, one of Australia’s premier gold mining companies.” Mining Chief Executive Officer, Paul Muller said, “Our purpose is to create enduring value and certainty for our clients, our people, our shareholders and the communities in which we work. At Cowal we will prioritise local and indigenous training and employment and local procurement opportunities while maintaining a transparent and consistent approach to community and indigenous engagement. We look forward to working with Evolution to develop a safe, sustainable, highly-productive world class operation in New South Wales.” To read the ASX release visit the ASX announcements section of our website.
Perenti delivers solid results in-line with expectations Posted on February 22, 2022February 22, 2022 by prnadmin Perenti has delivered solid financial and operational results for the six months ended 31 December 2021 that reflect significant revenue growth despite the continued COVID-19 challenges, while progressing the ramp-up of several growth projects and taking proactive portfolio and capital management measures to generate cash and support sustainable leverage reduction. Mark Norwell, Managing Director and CEO of Perenti, said: “We are pleased with the overall performance of the Group over the last six months. The business has delivered solid consolidated results that show an improvement on the prior half and are consistent with guidance despite the continuation, and in some cases worsening, of macro-economic and operating conditions. “Labour has remained tight, supply chains have continued to see disruptions, and the impacts of COVID-19 have arguably worsened both domestically and internationally. Yet despite this, our people have remained resilient which is absolutely appreciated by all of our Executives and the Board. “Impressively, we welcomed almost 1,000 additional employees into the business, we continued to see improvements in our AMS business reflecting the positive outcomes of our recent strategic review and remained focused on delivering on our commitments while creating enduring value for all stakeholders. “Looking ahead to the remainder of FY22, we expect the current macro-economic landscape to persist until the end of FY22 but remain confident in Perenti’s ability to continue to deliver on our commitments to our employees, our clients, our suppliers and our shareholders.” To the full Perenti 1H22 Results media release.
idoba collaborates with Sumitomo Corporation under MOU Posted on February 9, 2022February 9, 2022 by prnadmin idoba, Perenti’s technology driven products and services business, has been operating under a Memorandum of Understanding with Sumitomo Corporation for the co-creation and joint development of digital mining products for the advancement of sustainable mining practices. Sumitomo is a major investment and trading group, consisting of over 900 companies in 112 countries. Sumitomo will leverage its global mining industry network to bring a unique user perspective that will complement Perenti and idoba’s mining services and technology expertise. Under the terms of the MOU, Sumitomo and idoba will collaborate and jointly develop digital mining services, including mining process optimisation and carbon footprint management.• Mining process optimisation – by connecting and analysing mine performance data to predict future performance and provide decision support; and• Carbon footprint management – to generate predictive decision guidance that will help mine owners on their pathway to net zero carbon equivalent emissions, while optimising cashflow and performance against global emission standards. Mark Norwell, Managing Director and CEO of Perenti, said, “Our agreement with Sumitomo is a vote of confidence in idoba’s industry-leading capability. The combination of Sumitomo, idoba and our contract mining expertise will support our business evolving to meet the needs of the ever-changing mining industry and global expectations. “In idoba we are building an innovation-based business with a focus on helping clients achieve operational excellence and world’s-best environmental performance through product and service development.” Sarah Coleman, Chief Executive Officer of idoba, said, “The mining industry recognises the value that advanced digital technologies bring to operational performance, asset efficiency and sustainable business. “The MOU with Sumitomo will help us expand our suite of technology driven products and services to meet the mining industry’s demand for technology and sustainability to be integrated with mining domain expertise, and a human-centred approach.” Read the full ASX release here.