Perenti Limited secures contract extension at the Mako Gold Mine

Perenti Limited (ASX: PRN) announced that its surface mining subsidiary in Africa, African Mining Services has been received a contract extension for surface mining activities, comprising load and haul, drill and blast, grade control and crusher feed, at Resolute Mining’s Mako Gold Mine in Senegal. The agreement is valued at approximately US$185 million over a 4 years’ time period, starting from 01 January 2022.

Through its subsidiary African Mining Services, Perenti has delivered surface mining activities at the Mako mine since 2017. This agreement extension comprises updated commercial conditions and aligned with the company’s Capital Management Policy. The company also mentioned that this contract extension does not have a material impact on its FY23 guidance which remains unchanged.

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