Perenti Limited, an Australian Securities Exchange (ASX)-listed company, has announced that its underground mining subsidiary, Barminco, will complete its operations in Khoemacau Copper Mine on 30 June 2025, concluding a six-year engagement.
A structured handover to MMG will take place, including the sale of on-site equipment.
Managing Director and Chief Executive Officer at Perenti, Mark Norwell, said, “We have appreciated the opportunity to work on the Khoemacau Copper Mine and wish MMG well with their expansion plans.”
More reasons for ending the contract are backed by Perenti’s half-year results. According to Norwell, “The financial performance at Khoemacau has not met our internal performance hurdles, and we must maintain our commercial discipline to enable consistent returns through economic cycles”.
Norwell underscored the enduring legacy left by the Barminco team at Khoemacau. “ I am extremely grateful and appreciative for the efforts of the Barminco team, who have delivered results at Khoemacau. I trust that the high standard of training we initiated, including training some of the very first underground mine operators in the country, will leave a legacy for the hundreds of Batswana citizens we have worked alongside for the past 6 years“.
Furthermore, according to the agreed current terms and conditions, the Australian mining company says, ”All equipment at Khoemacau will be sold to MMG at the conclusion of the contract. The final value of the equipment will be calculated under an agreed formula in the contract“.
