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Perenti’s underground mining businesses have secured $420 million in contract extensions set to be carried out over the next two years, complementing recent contract awards for a total of nearly $900 million.

Perenti managing director and chief executive officer Mark Norwell said the company prides itself on its enduring relationships and is especially pleased to be continuing its relationship with long-term clients.

“I look forward to providing an update on the business, including the excellent progress we have made on the integration of DDH1, as part of our first half of 2023 results which will be released to the market in February,” he said.

The company landed a 12-month extension to continue underground development and production works at the Gold Fields Agnew underground gold mine in in Western Australia, valued at $125 million.

AngloGold Ashanti extended Perenti’s contract at its Obuasi underground gold mine in Ghana for a further $180 million.

The company will also continue underground development and production works at the Roxgold Yaramoko underground gold mine in Burkina Faso, West Africa over the next two years for a total for $115 million.

Perenti emphasised that no new growth capital is required under the terms of the contract for the extension’s execution.

“In my first few weeks at Perenti I have been very impressed with the team’s technical capability and the operational performance that they deliver to our clients. I believe that it is these factors that underpin the strength and depth of our relationships,” Perenti contract mining president Gabrielle Iwanow said.

“With these contract awards combined with those previously announced, namely $360 million related to the Sandfire Resources A4 project in Botswana and a further $111 million related to three Australian surface and underground contract awards, the team has secured nearly $900 million of revenue for the business.”