Perenti wins new work in Ghana

ANGLOGOLD Ashanti has awarded AMAX a five-year, A$470 million contract for the Iduapriem gold mine in western Ghana.
Perenti wins new work in Ghana Perenti wins new work in Ghana Perenti wins new work in Ghana Perenti wins new work in Ghana Perenti wins new work in Ghana

AngloGold's Iduapriem mine in Ghana

Staff reporter

AMAX is a 60:40 joint venture between Perenti Global's African Mining Services and Ghanaian mining services company MAXMASS.

The contract increases Perenti's work in hand by about $280 million.

Perenti managing director Mark Norwell said the contract continued AMS' transformation.

"We're delighted to be extending our relationship with our long-standing client, AngloGold Ashanti," he said.

"AMS has a reputation for delivering excellence while generating enduring value and certainty for stakeholders and the award of this new contract at a site where AMS has previously operated for AngloGold Ashanti provides further support for that reputation."

AMS has worked in Ghana for 30 years and at Iduapriem, a circa 275,000 ounce per annum producer, since 2012.

Perenti Mining CEO Paul Muller said the company welcomed its newest partner MAXMASS.

"We have a strong commitment to support and build local capability to generate social and economic value for the regions in which we operate," he said.

"Under this contract, and through the AMAX joint venture, we expect to continue to support the many local businesses that have become important suppliers and contractors to our operations under previous contracts.

"The joint venture also expects to employ more than 475 Ghanaians with approximately 40% of the workforce employed from the surrounding local communities and the remaining 60% from other regions within Ghana."

Perenti shares closed at 86.5c on Friday, valuing the company at $609.2 million.