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“Securing the Goldrush underground project is an excellent achievement by our Barminco North America team.”
Mark Norwell,
Managing Director and CEO,
Perenti.
Perenti, the Australian mining services powerhouse, has just made a bold move into the U.S market. Their underground mining division, Barminco, has secured its inaugural underground mining contract with none other than Nevada Gold Mines (NGM) for the ambitious Goldrush project.
This deal, worth approximately A$120 million, is set to unfold over a 36-month timeline, kicking off this February. A standout feature of this project is Barminco’s strategic use of idle fleet equipment, reducing upfront capital investment. This move streamlines operations while maximizing efficiency from the outset.
For some context, NGM is a formidable joint venture, with Barrick Gold holding a 61.5% stake and Newmont owning 38.5%. Established in 2019, this partnership brought together the vast mining assets of two industry giants, creating the world’s largest gold-producing complex. With ten underground mines and twelve surface mines under its belt, NGM is a powerhouse in the mining sector.
Looking ahead, the Goldrush project aims to achieve a production target of 400,000 ounces per year by 2028, boasting an impressive projected lifespan of 24 years. It is a significant addition to the mining landscape, and Barminco is proud to be at the helm of this venture.
Mark Norwell, Perenti’s Managing Director and CEO, expressed his enthusiasm for this milestone. He emphasized the hard work of Barminco’s North American team and how this achievement marks a pivotal moment for them.
He said, “Securing the Goldrush underground project is an excellent achievement by our Barminco North America team.”
Gabrielle Iwanow, Perenti’s president of contract mining, also underscored the strategic importance of the North American market for the company’s growth. She noted that North America is the largest market for hard rock underground mining globally, and this project signifies a key step forward for Barminco in its growth strategy.
“The North American market is the largest hard rock, underground mining market in the world, and this is Barminco’s first project in the U.S. This win represents a milestone achievement for Barminco and our contract mining team as we execute our growth strategy,” she said.
Conclusively, with this milestone secured Barminco is well-positioned for further expansion in the U.S. underground mining sector. This is just the beginning of an exciting new chapter for Barminco and Perenti in this dynamic market.