Perenti Limited
Perenti Limited
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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).
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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).
Australian gold major Evolution Mining has stuck with specialist contractor Barminco at its Cowal mine in NSW, awarding the Perenti group company a 4-year contract worth nearly $A520M to develop the second underground portal and conduct production works.
The contract is one of the largest wins for Barminco, which has been developing an exploration decline and conducting diamond drilling since early 2021 at the mine 350km W of Sydney.
International mining services contractor Perenti Global has reduced its earnings forecast for the year to end-June, citing the impact of the deaths of two employees at Khoemacau Copper’s Zone 5 mine in Botswana on top of COVID-related pressure on labour and supply constraints.
The Australian-based company says it has completed a detailed review of its previously released FY22 guidance of $A2.2-2.4B revenue and $165-185M EBIT(A).
International mining services contractor Perenti Global is working with Botswana miner Khoemacau Copper and authorities to establish the cause of an accident that killed two employees of its subsidiary Barminco at the Zone 5 mine on May 20.
Khoemacau says the two blasting crew members, one a local employee and the other an Indonesian citizen, were working in the underground mine 140m below the surface. Their bodies were found by colleagues who followed them underground.
Australian-based diversified mining services company Perenti Global is standing up against continuing labour constraints and supply pressures, reaffirming its revenue guidance of $A2.2-2.4B for the year to end-June (FY22).
Perenti posted half-year revenue of $A1.19B for H1FY22, up from $1.01B a year earlier, lifting EBITDA to $201.8M (H1FY21: $200.9B). NPAT(A) was $34.9M ($44.6M).
MD-CEO Mark Nowell says Perenti remains confident despite expecting tight labour and disrupted supply chains to persist to end-FY22.
African Mining Services has commenced mobilising heavy equipment to site after finalising its $US493M openpit mining services contract at Sandfire Resources’ Motheo copper project in Ghanzi, Botswana. It expects to commence mining works in early 2022 under the 7.3 years contract, with a 1-year extension.
AMS is continuing to progress the selection of a local JV partner to support the project.