Perenti’s underground mining business, Barminco, has been awarded the contract to provide underground mining services at Barrick’s Fourmile project in Nevada, USA.
The contract has an estimated value of A$275 million ($193 million) and a 45-month term, with works due to commence in July 2026.
Fourmile is 100%-owned by Barrick and located adjacent to the Goldrush project where Barminco already operates for Nevada Gold Mines, a joint venture between Barrick (61.5%) and Newmont Corporation (38.5%). Under the finalised contract Barminco will commence development of the twin Bullion Hill portals, part of circa-16 km of underground development, ground support, surface facilities and associated mining services. Perenti estimates there will be around A$39 million of growth capital required in its 2027 financial year for the project.
An announcement from Barrick last year referred to Fourmile as one of the century’s greatest gold discoveries, referencing updated studies. These studies. A preliminary economic assessment outlined the potential to achieve globally significant average annual gold production of 600-750,000 oz/y at low mining rates of 1.5-1.8 Mt of ore per year.
Vanessa Torres, Managing Director & CEO of Perenti said: “Securing the underground mining contract at Fourmile is an exciting development for our North America team. We look forward to expanding our relationship with Barrick through this project. This supports our strategy to expand operations in tier‑one mining jurisdictions and continues our disciplined growth into the North American market with both Barminco and Swick.”
Gabrielle Iwanow, President of Contract Mining at Perenti, added: “The North American market is the largest hard‑rock underground mining market globally, and Fourmile represents another important step in our growth strategy. We look forward to bringing Barminco’s focus on safety, quality and productivity to Fourmile, and to supporting Barrick as they advance this important project.”
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