Perenti's Barminco Wins A$275M Contract in Nevada
Key points
- Barminco awarded Fourmile Project contract in Nevada
- Contract value: A$275 million
- Contract term: 45 months from July 2026
- Capital requirement: A$39 million in FY27
Full summary
Perenti Limited (ASX: PRN) announced that its underground mining business, Barminco, has secured a contract to provide mining services at Barrick Mining Corporation's Fourmile Project in Nevada, USA. The contract, valued at approximately A$275 million, will span 45 months, with operations set to begin in July 2026. The project involves the development of twin Bullion Hill portals, part of approximately 16km of underground development, ground support, surface facilities, and associated mining services. Barrick owns the Fourmile Project outright, and it is adjacent to the Goldrush Project where Barminco already operates for Nevada Gold Mines, a joint venture between Barrick and Newmont Corporation.
Guidance
Capital requirement: A$39 million in FY27
Outlook
Perenti expects this contract to support its strategy of expanding operations in tier-one mining jurisdictions and its growth in the North American market.
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