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Mine services group Perenti (ASX:PRN) has landed a $300 million contract through its underground subsidiary, Barminco, to work on the Dalgaranga Gold Project for Ramelius Resources (ASX:RMS) as it expands operations.
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The four-year deal will see Perenti – through Barminco, as noted – deliver underground development, production, and other related mining services.
This Dalgaranga contract comes hot on the heels of Barminco’s successful completion of an underground exploration decline at the site; that was originally undertaken to enable infill and mineralisation extension drilling. Perenti’s Barminco will use that decline as a foundation for this next term deal.
The project will require around $16 million in growth capital expenditure in FY26, which Perenti said is already baked into its recent guidance.
Should both parties be happy down the road, there’s a 12-month extension clause too.
“Securing a four-year contract for underground mining at the Dalgaranga Gold Project is another strong result for Barminco,” Perenti’s managing director and CEO, Mark Norwell, said on the new contract.
“We look forward to delivering enduring value and certainty for Ramelius,” Mr Norwell added, and said Perenti and Barminco “appreciate the opportunity.”
Ramelius has owned the Dalgaranga Gold Project since it absorbed Spartan Resources (ASX:SPR) and all its assets earlier this year. That takeover cost Ramelius as much as $2.5 billion in a cash and shares deal.
PRN heads into Thursday trade at $2.40/sh.
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