Perenti Secures A$1.1 Billion Contract with Endeavour Mining: Expanding Global Mining Presence

Key Highlights:

• Perenti signs five-year, A$1.1 billion contract for underground mining at Burkina Faso’s Mana complex.
• Contract to boost revenue visibility through FY26 and beyond.
• PRN stock up 4.29% at $1.6425, with a 63.43% one-year return.
• Perenti’s global mining services footprint continues to grow.

Perenti Ltd (ASX: PRN) has bolstered its international mining services portfolio with the award of a landmark A$1.1 billion contract from Endeavour Mining. The deal, announced today, sees Perenti’s joint venture subsidiary, Underground Mining Services Burkina Faso SARL (UMS), securing a five-year agreement to provide underground mining operations at the Siou and Wona areas of the Mana complex in Burkina Faso’s Houndé Greenstone Belt—a region renowned for its high-grade gold resources.

The contract, which extends Perenti’s relationship with Endeavour Mining, covers underground development, production, and related mining services. Capital requirements for the project have already been factored into Perenti’s FY25 guidance, positioning the company to deliver consistent value to shareholders while expanding its footprint in West Africa. This long-term engagement signals strong forward visibility into Perenti’s earnings, with material contributions expected from FY26 onwards.

Mark Norwell, Managing Director and CEO of Perenti, hailed the agreement as a testament to the company’s ability to deliver enduring value. “The expansion of the Mana contract demonstrates our client’s confidence in our team’s capabilities and our commitment to operational excellence,” Norwell said. “This contract will meaningfully contribute to Perenti’s long-term revenue pipeline.”

Perenti’s President of Contract Mining, Gabrielle Iwanow, echoed the sentiment, emphasizing the importance of local partnerships in West Africa. “Working alongside our Burkinabe joint venture partner, Dynamic Mining Supply, we’re focused on creating lasting socio-economic benefits for the communities in which we operate,” Iwanow stated. The Mana complex has been a cornerstone of Perenti’s West African operations since 2018.

Perenti shares were up 4.29% in midday trading, changing hands at $1.6425—hovering near the upper end of its 52-week range of $0.935–$1.663. The company’s market cap now stands at A$1.53 billion, supported by a robust one-year return of 63.43%, outperforming both the broader ASX 200 and sector peers.

With a diverse portfolio spanning surface and underground mining services across 12 countries and a workforce of 10,500, Perenti is well-positioned to maintain its growth momentum in 2025 and beyond. As the global mining sector grapples with evolving supply chains and geopolitical shifts, Perenti’s latest contract underscores its ability to navigate complexity while delivering shareholder value.