Barminco, the underground mining division of Perenti, has secured a contract worth A$120m ($75.3m) from Nevada Gold Mines (NGM) for the Goldrush project in Nevada, US.
This development marks Barminco’s first contract in the country.
Under the terms of the contract, Perenti’s underground mining unit will provide underground development and ground support services for the Goldrush project.
Established in 2019, NGM is a joint venture (JV) between Barrick Gold (61.5%) and Newmont (38.5%) through the combination of their Nevada-based assets. Barrick Gold holds a stake of 61.5% in the JV, while Newmont owns remaining 38.5% interest.
NGM is said to be the world’s largest gold-producing complex, comprising 10 underground and 12 surface mines.
The Goldrush project is a new underground mining development. It aims to achieve production of approximately 400,000 ounces of gold per year by 2028, with a projected mine life of 24 years.
The site is expected to create 500 jobs during construction and 570 jobs once operational.
Barminco’s contract will run for 36 months, starting in February 2025. The company will utilise idle fleet equipment for the project, with no additional growth capital required for the initial scope.
Perenti managing director and CEO Mark Norwell said “Securing the Goldrush underground project is an excellent achievement by our Barminco North America team. The Nevada Gold Mines JV is a leading gold mining complex, operating in areas with mining history since the mid-1800s.
“Fellow Perenti business, Swick has operated in the US since 2009 and shared valuable experience with Barminco, demonstrating the combined strength of our group. Consequently, we are very pleased to be awarded this project and continue our strategic expansion into the North American market.”
The Goldrush underground project is forecast to produce around 130,000 ounces of gold in 2024, with commercial production expected in 2026 before ramping up to full capacity.
The project received its record of decision (ROD) last year, allowing work on surface infrastructure to commence.
