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IGO LIMITED — Capital/Financing Update 2024
Oct 9, 2024
65111_rns_2024-10-09_9bbc49f2-2f83-4212-ad7b-19049fde65a7.pdf
Capital/Financing Update
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10 October 2024
Barminco secures $157m underground contract extension with IGO at Nova
Perenti Limited (ASX: PRN) (‘Perenti’ or ‘the Company’) is pleased to announce that its underground mining business, Barminco, has signed a contract extension with IGO Ltd (ASX: IGO) to continue mining at the Nova underground nickel mine in the Fraser Range, Western Australia.
Barminco’s involvement at the Nova mine commenced in early 2015 when it was a greenfield site. This contract extension runs for 29 months from 1 July 2024.
Specific contract extension details include:
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Contract extension value: Circa AUD$157 million.
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Contract extension term: 29 months from 1 July 2024.
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Services: Underground mine development, production and mining support services.
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• Capital requirement: No new growth capital required.
Mark Norwell, Managing Director & Chief Executive Officer of Perenti said “We are immensely proud that Barminco has been present since the beginning of the Nova operation. This contract extension is a testament to the strength of our relationship with IGO and underscores our commitment to collaborating with our clients to generate value together.”
Gabrielle Iwanow, President of Contract Mining at Perenti said “Barminco is excited to continue the delivery of the world-class critical minerals operation at Nova. The ongoing safe and reliable mine production showcases how a collaborative approach and willingness to explore innovative solutions can deliver positive outcomes, even amidst significant market challenges.”
Authorised by: Mark Norwell Managing Director & CEO
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Investor enquiries: Jono van Hazel Head of Investor Relations – Perenti [email protected] +61 411 564 969
Media enquiries:
Paul Ryan Senior Director – Sodali & Co [email protected] +61 409 296 511
Level 4, William Square, 45 Francis Street, Northbridge, WA 6003 Australia
PO Box 8286 T +61 8 9421 6500 Perth WA 6849 [email protected] Australia
perenti.com
Perenti Limited ABN 95 009 211 474 (ASX: PRN) ( Perenti )
Perenti is an ASX listed, diversified mining services group with interests in contract mining, drilling services, mining services and technology solutions. Headquartered in Perth and with offices and operations across four continents, we are focused on creating enduring value and certainty for our investors, clients, people and the communities in which we operate.