Mining services company Perenti (ASX:PRN) reports its subsidiary Barminco has been awarded a 12-month contract extension at Newcrest Mining’s (ASX:NCM) Red Chris Gold and Copper Mine in British Columbia, Canada.
Red Chris is located about 1,700km north of Vancouver and is a joint venture (JV) partnership between Newcrest and Vancouver-based mining company Imperial Metals Corporation (TSX:III) with both companies holding a 70% and 30% interest respectively.
Since June 2021, the company says Barminco has continued to progress the development of an underground exploration decline to provide a platform for future exploration activities, which might also be used to support access to potential block cave workings.
Perenti reports this contract extension enables Barminco to continue underground development works which is expected to deliver about $90 million of revenue over the 12-month contract term.
Commenting on the contract extension, Perenti Chief Executive Officer (CEO) and Managing Director, Mark Norwell says: “Our strategy in North America is to partner with tier one operators and long-life assets, where we can add value over the long term.
“Our strategy in North America is to partner with tier one operators and long-life assets, where we can add value over the long term”
We continue to diligently progress our North American growth strategy and have key executive management personnel based in the region to ensure we develop the right relationships and become engrained within the sector while remaining disciplined in the execution of our strategy.”
Also commenting, President of Contract Mining, Paul Muller says: “Since mid-2021 our team in North America has worked closely with the Red Chris JV as it transforms the mine into a long life, tier one underground operation. We have developed very strong relationships with the local communities including a partnership with the Tahltan Nation Development Corporation and are very pleased to be onsite at Red Chris for at least the next 12 months.”
Perenti is a Perth-based diversified global mining services group with interests in contract mining, mining support services, and future technology solutions. Founded in 1987, today Perenti is one of the ‘largest’ mining services companies providing surface and underground mining at scale.
Images: Perenti Ltd
