Perenti Ltd Announces Contract Extension and Equipment Sale at Iduapriem
Key points
- Contract extension with AngloGold Ashanti at Iduapriem mine
- Sale of mining fleet to AngloGold Ashanti
- Expected proceeds from sale between A$30 million and A$40 million
Full summary
Perenti Limited, through its subsidiary African Mining Services (AMS) via the AMAX LTD joint venture, has reached an agreement with AngloGold Ashanti for an orderly transition at the Iduapriem Gold Mine in Ghana. The transition includes the sale of AMS's mining fleet to AngloGold Ashanti at the end of the contract, with expected proceeds between A$30 million and A$40 million. The contract, valued at approximately A$95 million, has a term of around 6 months starting from 17 July 2026. AMS will continue to provide surface mining and related supporting services until the contract completion.
Guidance
Expected proceeds from sale of equipment at Iduapriem: A$30-40 million
Outlook
Perenti anticipates the sale proceeds will be reinvested into value-accretive opportunities.
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