Perenti’s (ASX:PRN) underground mining business, Barminco, has signed a contract valued at $157 million with IGO (ASX:IGO) to continue mining services at the Nova Nickel Mine in Western Australia.
Barminco’s involvement at Nova began in early 2015 when it was just a greenfields site.
This contract extension runs for 29 months from 1 July 2024.
Perenti, which has a market capitalisation of $966.98 million, says Barminco will conduct underground mining development services, as well as production and mining support services.
CEO Mark Norwell says this contract extension is a testament to the strength of the relationship with IGO and underscores the company’s commitment to collaborate with clients.
“We are immensely proud that Barminco has been present since the beginning of the Nova operation,” Norwell says.
President of Contract Mining Gabrielle Iwanow says the company is excited to continue operations at Nova.
“The ongoing safe and reliable mine production showcases how a collaborative approach and willingness to explore innovative solutions can deliver positive outcomes, even amidst significant market challenges,” Iwanow says.
The Nova operation is located in the Fraser Range in Western Australia. During the 2024 financial year, Nova produced 20,806 tonnes of nickel, 9,922 tonnes of copper, and 735 tonnes of cobalt.
Perenti is a diversified global mining services company that has interests in contract mining, support services, and future technology solutions. The company is headquartered in Perth, Western Australia, and operates across four continents.
Write to Aaliyah Rogan at Mining.com.au
Images: Barminco
