Barminco Secures $500 Million Contract Extension with Gold Fields at Agnew Gold Mine

Barminco 

Three-Year Deal to Continue Underground Operations in Western Australia

Perenti’s underground mining division, Barminco, has secured a new $500 million contract with Gold Fields for continued underground mining services at the Agnew gold mine near Leinster, Western Australia. Barminco has operated at the site since 2010.

The new agreement extends Barminco’s role in underground development, production, and associated mining services for another three years starting January 1, with an optional 12-month extension. The capital expenditure linked to this contract has already been accounted for in Perenti’s FY25 capital guidance.

Longstanding Relationship and Operational Strength

Perenti managing director and CEO Mark Norwell welcomed the extension, highlighting the strength of the relationship between Perenti and Gold Fields:

“We are very pleased to be extending our relationship with Gold Fields at the Agnew gold mine,” Norwell said.

“Gold Fields is one of our most longstanding and valued clients, with a history of more than 30 years working alongside the various Perenti businesses.”

Norwell emphasized the importance of Australian operations to Barminco’s long-term value delivery:

“Our Australian operations are important for Barminco to deliver enduring value and certainty for our clients and shareholders.”

He added that Barminco’s long-term contracts with high-quality clients like Gold Fields support the company’s ability to consistently generate reliable earnings.

Workforce Expansion and Strong Production Ramp-Up

Barminco currently employs over 300 people at Agnew and has significantly ramped up development and production in recent years.

Perenti’s president of contract mining, Gabrielle Iwanow, praised the operational progress and team performance:

“Barminco has successfully ramped up development and production at Agnew in recent years.”

“We very much value the relationship with Gold Fields and we look forward to continuing to deliver safe and productive underground services through our highly capable team in Australia.”