Perenti Limited
Perenti Limited
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West Australian miner IGO has awarded contractor Barminco an extension to Sept 2023 of its underground drilling, development and mining activities at the high-grade Flying Fox mine at its 100%-owned Forrestania operations 400km E of Perth. The nine-month extension, dating from Jan 1, will be worth about $30M.
Barminco has been primary underground mining contractor at Flying Fox since its inception by former owner Western Areas in Dec 2004.
Improving operational and commercial conditions have enabled Australian mining services group Perenti to lift its Dec half-year profit by 75%, and upgrade its FY23 guidance to $A2.8-2.9B and EBIT(A) to $250-260M.
H1FY23 revenue rose to $1.44B ($1.19B), resulting in underlying EBITDA of $281.2M ($201.8M), EBIT(A) of $134.6M ($80.8M) and NPAT(A) of $61M ($34.9M).
Australian mining services specialist Ausdrill will have up to 14 production blast hole drill rigs in operation at the Kalgoorlie Superpit under a new surface mining contract awarded by Northern Star Resources.
The 60-month deal is worth about $A160M, the Perenti Group company’s largest ever surface contract in Australia. It continues a relationship with the iconic Fimiston mine that began with one of Ausdrill's earliest contracts, comprising two rigs, in 1987.
Australian mining services company Perenti has confirmed that two of its employees were fatally injured when their light vehicle fell into a void about 125m below the surface at MMG’s Dugald River underground zinc mine in Queensland on Feb 15.
A third employee, a drill rig operator, was rescued after the 15m fall into a previously backfilled mining stope, and was treated for minor injuries.
Site emergency teams are searching for two miners unaccounted for after they reportedly fell down a stope at MMG’s Dugald River underground zinc mine in Queensland, Australia.
The men are employees of hard rock underground mining contractor Barminco, which has been conducting development and production operations at the mine 65km NW of Cloncurry since it first opened in 2012.
West African producer Resolute Mining has awarded a four-year, $US185M contract extension to surface mining contractor African Mining Services at its Mako gold mine in Senegal.
AMS, which has been active at the openpit mine since 2017, will continue load and haul, drill and blast, grade control and crusher feed at the openpit mine until 2026.
It’s taken just over a month for Australian-based international mining services company Perenti to lift its FY23 guidance while targeting a return to “historical levels” of profit over the next two years.
Perenti says improved commercial outcomes across Australian and African contracts support forecasts for the year to end-June 2023 of $A2.7-2.9B revenue and $230-250M EBIT(A). On Nov 14, it predicted $2.6-2.7B revenue and $215-230M EBIT(A).
(SUSTAINABILITY)
Global power and automation technology company ABB has added mining services group Perenti to its list of partnerships aiming to promote electrification of mine haulage operations and other decarbonisation strategies for the resources sector.
Global technology company ABB has joined forces with mining services group Perenti to establish zero-emissions practices and strategies in underground and openpit mines, with its prime focus on electrification, power distribution and management.
The pact follows ABB’s similar non-binding relationships with OEMs, technology innovators and mining companies, linking its technology expertise with Perenti’s mining and technical capability.
Continuing improvements in operational and commercial conditions over recent months have seen Australian-based international mining services group Perenti lift its expectations for the year to end-June 2023.
Perenti has announced revised FY23 guidance to revenue of $A2.6-2.7B (previously $2.4-2.5B) and EBIT(A) of $215-230M ($185-205M). Net capital expenditure is now expected to be $340M ($330M).