Perenti secures $708M contract from Endeavour Mining
Australia’s Perenti said on Monday it will provide underground mining services at London-listed Endeavour Mining’s Mana complex in the West African country of Burkina Faso under a A$1.1 billion ($708 million) contract.
Perenti Secures Five-Year Contract for Endeavour’s Burkina Faso Gold Mine
Perth-based mining services provider Perenti Ltd. announced it has secured a five-year contract through its joint venture unit to provide mining services at a major gold mine in Burkina Faso, operated by Endeavour Mining. The agreement is set to commence on June 1, 2025, and is expected to contribute to Perenti’s earnings beginning in fiscal 2026 and beyond, according to a company statement released Monday.
The project, which underscores Perenti’s strategic focus on international expansion and long-term partnerships in Africa, is aligned with the company’s broader financial and operational targets. The unnamed site produced approximately 150,000 ounces of gold in 2024, and output is projected to rise to between 160,000 and 180,000 ounces in 2025, based on figures published on Endeavour Mining’s website.
“This contract reinforces our confidence in the group’s FY25 earnings outlook,” said Mark Norwell, Managing Director and Chief Executive Officer of Perenti. “It also reflects the continued demand for high-quality mining services across key African markets.”
The deal is in line with Perenti’s previously issued guidance for the 2025 financial year, during which the company expects to generate revenue between A$3.4 billion and A$3.6 billion. The group also anticipates net capital expenditure of around A$330 million, which includes ongoing investment in equipment and infrastructure to support its expanding operations across Africa and Australia.
Burkina Faso remains a significant hub for gold mining in West Africa, despite ongoing geopolitical and security concerns. Endeavour Mining, a London-listed senior gold producer, is one of the country’s largest operators, with multiple active mines and exploration projects.
Perenti has been steadily increasing its footprint in Africa, where it operates through subsidiaries such as African Mining Services (AMS). The contract further strengthens its relationship with Endeavour, a key client, and is expected to provide stable, long-term revenue while supporting local employment and supply chains.
As of today’s exchange rate, one U.S. dollar equals approximately 1.5530 Australian dollars.
