Perenti to Partner with Sandfire Resources for Motheo Project
Perenti announced that its surface mining business in Africa, African Mining Services, has been awarded the contract for open pit mining services at the Sandfire Resources Motheo Copper Project in Ghanzi in Botswana. The contract, which is yet to be finalised, has an estimated value of USD 496 million over an initial term of seven years and three months with a provision for a one-year extension. Under the terms of the Mining Services Contract, AMS will identify a suitable local Botswana company or companies as a Joint Venture partner for the project and transition to the joint venture before the commencement of mining in early 2022.
Perenti Managing Director and Chief Executive Officer Mr Mark Norwell said Motheo represents a game changing growth opportunity for AMS and will substantially increase Perenti’s presence in Botswana, one of the world’s most attractive mining jurisdictions, ranked the eleventh most attractive region for global mining investmenti and holds Africa’s strongest credit rating of BBB+ from S&P.