Perenti Secures $1.1B Burkina Faso Underground Mining Contract

Australian mining services company Perenti Global has secured a significant five-year contract worth approximately A$1.1 billion to provide underground mining services at the Mana complex in Burkina Faso, operated by Endeavour Mining's subsidiary SEMAFO Burkina Faso. The contract targets the Siou and Wona prospects, which are noted for their high-grade gold deposits within the Houndé Greenstone Belt. This deal marks an expansion of Perenti’s existing operations at Mana, where its joint venture partner has been active since 2018, and is expected to contribute strongly to Perenti's earnings from fiscal year 2026 onward. Perenti's CEO Mark Norwell emphasized the contract aligns with the company's FY25 guidance and highlights their commitment to delivering value and supporting local economic development through partnerships like Dynamic Mining Supply. The Mana complex produced nearly 150,000 ounces of gold in 2024, with projections of up to 180,000 ounces for 2025, underscoring the contract's importance to both Perenti and Endeavour Mining. Perenti's shares have responded positively, rising notably over the past month amid several recent contract wins across West Africa.