Australia's Perenti secures $708-million mining contract from Endeavour Mining (updated)

Perenti

02/06/2025 24:26

Updates with background, details from paragraph 2 onwards

June 2 (Reuters) - Australia's Perenti PRN.AX said on Monday it will provide underground mining services at London-listed Endeavour Mining's EDV.L Mana complex in the West African country of Burkina Faso under a A$1.1-billion ($708 million) contract.

The five-year contract through the Australian service miner's joint venture unit will start from June 1 and contribute to earnings in fiscal 2026 and beyond, the company said.

The Burkina Faso gold mine produced nearly 150,000 ounces in 2024 and is projected to deliver 160,000 to 180,000 ounces this year, according to gold producer Endeavour's website.

The contract is consistent with the company's guidance for the 2025 financial year, said Mark Norwell, Perenti's managing director and chief executive.

Perth-based Perenti projected fiscal year 2025 revenue to be between A$3.4 billion and A$3.6 billion, with net capital expenditure estimated at around A$330 million.

    ($1 = 1.5530 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru; Editing by Rod Nickel and Tom Hogue)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))