Perenti's Barminco Secures A$275M Fourmile Underground Contract
Perenti's underground mining arm Barminco has landed a A$275 million contract at Barrick's Fourmile Project in Nevada, marking a strategic expansion in North America's hard-rock mining sector.
- A$275 million contract over 45 months at Fourmile Project
- Barminco to start work July 2026 with significant underground development
- Approximately A$39 million growth capital required in FY27
- Expands Perenti's footprint in North American mining services
- Strengthens relationship with Barrick Mining Corporation
Major Contract Win Boosts Perenti's North American Ambitions
Perenti Limited's underground mining division, Barminco, has clinched a substantial A$275 million contract to deliver underground mining services at Barrick Mining Corporation's Fourmile Project in Nevada, USA. The 45-month agreement, commencing July 2026, represents a meaningful step in Perenti's strategy to deepen its presence in tier-one mining jurisdictions, particularly within the lucrative North American hard-rock underground mining market.
Scope of Work and Capital Investment
The contract tasks Barminco with extensive underground development, including the construction of the twin Bullion Hill portals and approximately 16 kilometres of underground tunnelling, alongside ground support, surface facilities, and associated mining services. To support this expansion, Perenti anticipates deploying around A$39 million in growth capital during the 2027 financial year, a significant investment that underscores the project's scale and operational demands.
Building on Established Relationships in Nevada
Fourmile is wholly owned by Barrick and sits adjacent to the Goldrush Project, where Barminco already operates under Nevada Gold Mines, a joint venture between Barrick and Newmont Corporation. This proximity and existing operational familiarity position Barminco well to leverage efficiencies and deepen its partnership with Barrick. Managing Director Vanessa Torres highlighted the contract as an exciting development for Perenti's North American team, reinforcing the company's disciplined growth approach in the region.
Strategic Implications for Perenti's Growth Trajectory
Barminco's Fourmile contract complements recent wins such as the A$850 million Bellevue underground contract in Australia, reflecting a dual-continent growth strategy. The North American market, noted by Contract Mining President Gabrielle Iwanow as the largest hard-rock underground mining sector globally, offers significant opportunity for Perenti to apply its safety and productivity standards at scale. This award further cements Barminco's reputation as a preferred contractor for tier-one mining companies and highlights Perenti's evolution under new CEO Vanessa Torres, who took the helm earlier this year.
Bottom Line?
Perenti’s Fourmile contract marks a clear push into North America’s underground mining sector, with execution and capital deployment set to shape near-term investor focus.
Questions in the middle?
- How will the A$39 million growth capital impact Perenti's FY27 financial metrics?
- Can Barminco replicate its operational success from Goldrush at the larger Fourmile Project?
- Will this contract lead to further expansions or partnerships within North America?
