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Highlights
- $1.1 billion contract secured in Burkina Faso
- Strengthened joint venture with local partner
- Momentum continues across global operations
Mining services group Perenti (ASX:PRN) has announced a major expansion in West Africa, winning a substantial five-year contract valued at approximately $1.1 billion. The agreement, awarded by Endeavour Mining (TSE:EDV) through its subsidiary SEMAFO Burkina Faso, will see Perenti deliver underground mining services at the Mana gold complex in Burkina Faso.
This new development reinforces Perenti's position within the ASX300 and underscores its growing international footprint. The Mana complex—home to the high-grade Siou and Wona underground mines—is situated within the mineral-rich Houndé Greenstone Belt, a region known for its significant gold endowment.
The contract will be executed by Underground Mining Services Burkina Faso (UMS), a joint venture between Perenti and local enterprise Dynamic Mining Supply. UMS will manage underground development, production, and associated services throughout the duration of the agreement.
Perenti’s CEO, Mark Norwell, noted that the contract aligns with the company’s FY25 guidance and is set to contribute strongly in FY26 and beyond. He highlighted that the company’s ability to deliver consistent value to its clients played a key role in securing this long-term deal.
Gabrielle Iwanow, Perenti’s President of Contract Mining, emphasised the importance of the company’s relationship with Endeavour and the significance of local partnerships. Working alongside Dynamic Mining Supply, Perenti aims to advance local procurement, skill development, and job creation within Burkina Faso.
This contract comes on the heels of other major international wins for Perenti. In Ghana, its African Underground Mining Services arm recently locked in a five-year underground mining agreement at the Obuasi gold mine, operated by AngloGold Ashanti (JSE:ANG). Valued at around $1.02 billion, this project was secured via the Underground Mining Alliance joint venture.
Closer to home, Perenti’s Barminco subsidiary extended its relationship with Gold Fields (JSE:GFI) at the Agnew gold mine in Western Australia. This three-year contract, valued at approximately $500 million, includes an option for a fourth year and continues Barminco’s work at Agnew, where it has operated since 2010.
With a robust pipeline of contracts across continents, Perenti is emerging as one of the strong players among ASX dividend stocks, offering investors exposure to a diversified, global mining services business. As part of the ASX300, its continued growth and contract success reflect solid operational performance and increasing demand for its services across key mining jurisdictions.
