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Highlights
Perenti’s African JV renews underground services deal with AngloGold Ashanti at Obuasi mine
AUMS extends five-year mining contract, reinforcing long-standing operational presence in Ghana
The project supports gold production activities at a deep-reserve site with significant output capacity
The materials sector on the ASX 200 welcomes a major development as Perenti (ASX:PRN) strengthens its presence in West Africa through a renewed agreement with AngloGold Ashanti (NYSE:AU), listed on the NYSE. The latest contract renewal secures continued underground mining services at the Obuasi Gold Mine in Ghana, a project of strategic importance for both firms.
Perenti’s joint venture, African Underground Mining Services (AUMS), is a collaboration between its subsidiaries Barminco and Ausdrill. This partnership has consistently delivered underground mining expertise in the region since its inception. The new contract solidifies the JV’s involvement at Obuasi, a mine known for its extensive reserves and operational depth.
Since 2019, AUMS has operated at the Obuasi site in conjunction with Ghana-based Rocksure International through a partnership called the Underground Mining Alliance. This cooperative approach has enhanced mining capabilities at the site, ensuring the efficient development and extraction of gold resources at significant depths.
Obuasi is an established underground operation with infrastructure that reaches well below the surface. The mine is known for its substantial reserves and notable gold output, maintaining a position as one of the key assets in AngloGold Ashanti’s portfolio. This ongoing collaboration supports AngloGold’s long-term production objectives in the region.
The joint venture between Barminco and Ausdrill dates back to 2007. Its evolution into AUMS allowed for a stronger footprint in African mining markets, particularly in jurisdictions like Ghana where underground mining plays a vital role in the national mining economy.
Perenti, headquartered in Australia and founded in the late 1980s, offers a wide range of mining services across multiple continents. Its contract mining division, led by President Gabrielle Iwanow, emphasizes strategic alignment with global mining operators. The continued partnership with AngloGold Ashanti underscores the importance of consistency and mutual trust in large-scale mining ventures.
AngloGold Ashanti, listed on the NYSE under ticker AU, operates as one of the largest gold producers globally, with a diverse asset base spanning Africa, the Americas, and Australia. The Obuasi project is a key part of the group’s African operations, combining technical complexity with high-yield output.
This latest agreement highlights the sustained demand for experienced underground mining service providers in Africa’s gold sector. With Barminco and Ausdrill’s technical proficiency and operational track record, AUMS remains well-positioned to support the goals of major miners like AngloGold in challenging geological environments.
By reinforcing this long-standing collaboration, both Perenti and AngloGold continue to demonstrate their focus on operational efficiency and regional mining development across Africa.
