Perenti Global : Barminco secures $200m Odysseus contract with Western Areas

8 September 2020

Barminco secures $200m Odysseus contract with Western Areas

Perenti (ASX: PRN) is pleased to announce its subsidiary, leading hard-rock underground miner Barminco, has been awarded a development and production contract at Western Areas' Odysseus mine located at the Cosmos Nickel Operation, 30km north of Leinster in Western Australia. The contract is valued at approximately $200 million over five years and follows on from the earlier rehabilitation works completed by Barminco at the mine.

Western Areas acquired the Cosmos Nickel Operations in October 2015 and commenced the redevelopment of the Odysseus mine in January 2019. Odysseus is an exciting, new, long life development, establishing Western Areas' third Nickel mine in Western Australia.

Barminco's Chief Executive Officer, Paul Muller, said: "We are excited to continue our relationship with the Western Areas team, which began in 2005 at Forrestania, and has now grown to include the Cosmos Nickel Operation. Odysseus is a significant project to bring on-stream, and the five-year term demonstrates the trust and confidence Western Areas has in Barminco to continuously improve and deliver for them".

Perenti Managing Director and Chief Executive Officer, Mark Norwell, said: "It is fantastic that Barminco and Western Areas have extended their 15-year relationship to at least 20 years. We are very appreciative of the opportunity and we look forward to delivering value and certainty for Western Areas at their new development."

Authorised by:

Mark Norwell

Managing Director and CEO

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Perenti is a diversified global mining services group with businesses in surface mining, underground mining and mining support services. The Group was founded in Kalgoorlie in 1987 and is today one of the world's largest companies providing surface and underground mining at scale. Headquartered in Australia, Perenti has operations and offices in 13 countries across four continents, employs around 8,000 mining professionals and is creating enduring value and certainty for clients on some of the world's largest mining projects.