Perenti Finalizes Savannah Nickel Project Contract
Perenti Global Limited announced that its subsidiary, leading hard-rock underground miner Barminco has finalised a contract with Panoramic Resources Limited for development and production works at their Savannah Nickel Project in the Kimberley region of Western Australia. The finalised contract represents a value of approximately AUD 280 million over a four-year contract term.
Under the terms of the initial Letter of Intent, announced on the 6lh April 2021, Barminco commenced mobilisation and early mining works ahead of the schedule. With finalisation of the contract, Barminco expects development and production works will ramp-up over the coming six months to achieve full run rate of revenue early in the third quarter of FY2022.