Australia’s Perenti has secured its second A$1 billion contract in West Africa in a few weeks with its new five-year deal to provide underground mining services at Endeavour Mining’s Mana gold operation in Burkina Faso.
The $1.1 billion (US$715 million) Endeavour contract follows Perenti’s recent win with AngloGold Ashanti at Obuasi in Ghana.
Mana includes the Siou and Wona underground mines expected to produce 160,000-to-180,000oz of gold at US$1550-1750/oz AISC in 2025. The site produced 148,000oz at $1740/oz AISC last year.
Mana is about 60km north of Endeavour’s Hounde mine on Burkina’s Hounde Greenstone Belt.
Perenti’s new 60-month contract started this month.
“This contract is consistent with our guidance for FY25 and will contribute strongly in FY26 and beyond,” the company’s CEO, Mark Norwell, said.
ASX-listed Perenti expects to deliver more than A$150 million of free cash flow in the year to June 30, 2026, on revenue of $3.4-3.6 billion.
The company’s share price is up about 19% in the past month, capitalising Perenti at about $1.51 billion.
