AngloGold Ashanti awards $700m contract extension

Company News

by Rachael Jones

AngloGold Ashanti Australia (ASX:AGG) has awarded an extension for a five year contract to Barminco Holdings for Sunrise Dam in the northern Goldfields.

Based on the current mining schedule, the contract extension is worth approximately $700 million.

Leading global hard-rock underground mining services provider Barminco has partnered with AngloGold Ashanti at Sunrise Dam in the northern Goldfields since the start of underground operations in 2003.

Barminco is joint venture partners in African Underground Mining Services with Ausdrill (ASX:ASL) and are potentially merging in a deal that will make Ausdrill the second –biggest mining services company in Australia.

Shares in AngloGold Ashanti Australia (ASX:AGG) flat at $2.20.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.