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Perenti Global (ASX:PRN) secures US $648m copper project in Botswana

Perenti Global (ASX:PRN) secures US $648m copper project in Botswana

Diversified mining company Perenti Global (ASX:PRN) has secured a deal to operate and develop a copper project on a site owned by Sandfire Resources (ASX:SFR) in Botswana.

The seven year contract will see Perenti’s representative on the continent, African Mining Services (AMS) overseeing the execution of the contract worth an estimated US $648 million. The Motheo project is a copper-silver mine located in the Southern African nation of Botswana. The country is rated the most politically stable and secure economy in Africa, according to the Fraser Institute Annual Survey of Mining Companies.

The development project is scheduled for commencement in 2022 and the deal has an option of extension for a further year. Perenti intends to source 95% of personnel from the local work force, providing employment opportunities for the local community.

Search for a local mining specialist

Perenti’s African subsidiary is now in search of a local mining specialist in Botswana to form a development and operation partnership for the mine. Headquartered in Australia, the company has more than 30 years’ experience in surface and underground mining and a track record of delivering mining projects in challenging environments.

“Growing our footprint in Botswana is aligned with our 2025 strategy, to further expand into stable mining jurisdictions and pursue quality projects. The benefit of adding Motheo to the Perenti project portfolio is the opportunity to leverage our existing in-region operational presence at Zone 5 (owned by Khoemacau Copper Mining) as well as partnering with Sandfire to develop Botswana’s next large-scale, highly productive, world-class copper mine,” said Perenti Managing Director and Chief Executive Officer, Mark Norwell.

Since the company’s formation in Kalgoorlie in 1987, Perenti has grown significantly and the Perenti group of companies. Perenti have operations and offices across 11 countries and are involved in some of the world’s largest mining projects.

 

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