Perenti has secured a contract extension through its subsidiary, African Underground Mining Services (AUMS), pertaining to AngloGold Ashanti’s Obuasi Gold Mine in Ghana.
This extended A$1.02bn ($660m) contract, which involves providing underground mining services, will be executed via the Underground Mining Alliance (UMA).
UMA is a joint venture between AUMS and the Ghana-based Rocksure International.
The duration of the contract is set for five years, beginning on 1 February 2025. It stipulates that AUMS will deliver underground development, production, and other related mining services.
As per the terms, no substantial new capital investment from AUMS is expected as AngloGold Ashanti will cover major capital expenditure.
Perenti managing director and CEO Mark Norwell said: “We are pleased to sign the Obuasi contract with AngloGold Ashanti (AGA) for an additional five years.
“We highly value our relationship with AGA and look forward to continuing and deepening our positive working relationship.
“This agreement is a testament to the reliability and value provided by our contract mining division. Our extensive operational experience and the scale of our global underground business enables us to consistently deliver enduring value and certainty to our clients and shareholders.”
The Obuasi Gold Mine, located roughly 60km south of Kumasi in Ghana’s Ashanti region, operates as an underground mine reaching depths of up to 1,500m.
The facility includes a processing plant with a capacity of handling 2.4 million tonnes annually and is supported by infrastructure such as hoisting shafts and power supplied by the Volta River Authority and GridCo.
Historical operations at Obuasi began in 1897 but were halted in late 2014.
Following a favourable feasibility study in 2017, which demonstrated a viable technical and economic outlook, the project received approval from AngloGold Ashanti’s Board in 2018. Redevelopment efforts began in early 2019, culminating in the first gold pour during that year’s fourth quarter.
