IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Mining services company Perenti Limited (ASX: PRN) announced Monday that its underground mining business, Barminco, has been awarded a three-year extension of its contract at AngloGold Ashanti plc’s (NYSE: AU) Sunrise Dam underground mine in the Goldfields of Western Australia.
The underground development and mining services contract extension is valued at A$450 million ($299.5 million) for a three-year term starting October 1, 2024. No new growth capital expenditure is required, the company 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,” Gabrielle Iwanow, president of contract mining at Perenti, said in a news release.
“We are proud to have partnered with AngloGold Ashanti for over two decades, delivering on our purpose of creating enduring value and certainty.”
