Perenti Limited (ASX: PRN) ('Perenti' or 'the Company') is pleased to announce that its underground mining business, Barminco, has been awarded a three-year extension of its mining services contract at AngloGold Ashanti plc's (NYSE: AU) Sunrise Dam underground gold mine in the Goldfields of Western Australia.

The contract extension outlines: Contract value: A$450 million. Contract term: 3 years with commencement date from 1 October 2024. Services: Underground development, production and mining support services. Capital requirement: No new growth capital expenditure required.

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said 'AngloGold Ashanti is one of our largest clients, and we are proud to have worked with them for the past 20 years. Perenti has an excellent track record at extending existing contracts which we attribute to our collaborative relationship with our clients. Successful maintenance of our long-term relationships ultimately supports our business, as continuation of contracts does not require the upfront capital expenditure of new contracts. Ultimately this supports generation of free cash flow which continues to be a key focus of our strategy.' Gabrielle Iwanow, President of Contract Mining at Perenti said 'Our people are at the heart of our success and their dedication, innovative thinking and highly skilled efforts have again resulted in the award of a significant contract for a long-standing client within a great mine in Western Australia. We are proud to have partnered with AngloGold Ashanti for over two decades, delivering on our purpose of creating enduring value and certainty.'

Contact:

Jono van Hazel

Head of Investor Relations - Perenti

Tel: +61 411 564 969

Email: jono.vanhazel@perentigroup.com

Paul Ryan

Senior Director - Morrow Sodali

Tel: +61 409 296 511

Email: p.ryan@morrowsodali.com

(C) 2024 Electronic News Publishing, source ENP Newswire