AUMS inks US $655bn contract for Obuasi Gold Mine in Ghana

Australian mining services provider Perenti, through its subsidiary African Underground Mining Services (AUMS) and in partnership with Ghanaian contractor Rocksure International, has secured a five-year contract worth approximately US $655.3 million for underground mining operations at the Obuasi Gold Mine in Ghana.

The contract is being executed through the Underground Mining Alliance (UMA), a joint venture in which AUMS holds a 60% stake and Rocksure owns 40%. This agreement covers various underground mining activities including development and production. Importantly, AngloGold Ashanti, the owner of the Obuasi mine, will finance all major capital expenditures, meaning Perenti will not need to deploy any new growth capital for the project.

Obuasi Gold Mine

Operations under the renewed contract will begin on 1 February 2025. AUMS has already been providing services at Obuasi since 2019, contributing to the mine’s transformation into a modern, mechanized operation.

Perenti Managing Director and CEO Mark Norwell expressed confidence in the deal, describing it as a reflection of Perenti’s capability to deliver consistent value in underground mining. He emphasized the significance of the company’s strong working relationship with AngloGold Ashanti.

Gabrielle Iwanow, President of Perenti’s Contract Mining division, added that the collaboration with AngloGold Ashanti is a key strategic relationship for the business. She highlighted Perenti’s commitment to supporting the client’s long-term operational goals.

Located in the Ashanti Region, roughly 60 kilometers from Kumasi, the Obuasi mine reaches depths of up to 1,500 meters and is one of the most prominent gold operations in West Africa. In a separate development, Perenti’s underground mining unit Barminco recently secured a A$500 million contract to extend its operations at the Agnew Gold Mine in Western Australia, which is owned by Gold Fields.