Barminco, Perenti’s underground mining subsidiary, has signed a new $200 million contract with Westgold Resources’ Great Fingall gold mine near Cue, Western Australia.
The new contract concerns underground mining services at Great Fingall, including mine development, production, and associated mining services.
Set to commence in July, the contract is for a three-year term, with a 12-month option to extend.
“We are excited to be partnering with Westgold on the Great Fingall project,” Perenti managing director and chief executive officer (CEO) Mark Norwell said.
“This award highlights the depth and scale of Barminco’s mining and technical capability and supports the ongoing focus of growing our underground mining business in Australia and select regions internationally.
“This project further increases Australian earnings for Perenti and supports our ongoing focus on year-on-year sustainable cash generation. We look forward to delivering value for Westgold through our collaborative approach and focus on operational excellence.”
Considered one of WA’s most iconic gold mines, Great Fingall has historically produced approximately 1.2 million ounces.
Production at Great Fingall is expected to commence early in the 2025–26 financial year (FY26), with decline development having commenced in October 2023.
Westgold said its new contract with Barminco will allow it to redeploy the team and equipment at Great Fingall to its larger, owner-operated mines such as Beta Hunt and the Bluebird–South Junction.
“Westgold continues to focus on increasing mine productivity and further leveraging its extensive capital base,” Westgold managing director and CEO Wayne Bramwell said.
“Our in-house mining team and fleet is best deployed in our larger, strategic assets and this capability gives us the optionality to utilise specialist contractors in our smaller mines. The Great Fingall mine is a smaller mine and as such lends itself to contract mining.”
Great Fingall is expected to be a long-life, high-grade, high-margin underground mine that produces more than 45,000 ounces per annum.
“It is a high grade, but comparatively simple, operation – with cost efficiency and productivity underpinned by a detailed mine plan, robust drill data, favourable ground conditions and excellent, established mine infrastructure,” Bramwell said.
“After a competitive tender process, Barminco was selected as our partner for Great Fingall due to its stand-out safety processes, mining efficiency, and track record of delivery.
“These qualities reduce the execution risk around Great Fingall for Westgold and will ensure a smooth transition to contract operations in (the first quarter of) FY26.”
