What are the key details of the contract between Perenti (ASX:PRN) and Bellevue Gold (ASX:BGL)?

Perenti’s subsidiary, Barminco, secured an underground mining services contract at the Bellevue Gold Project in Western Australia. The deal is valued at approximately A$850 million over a 48-month term starting August 1, 2026.

Why is this $850 million contract significant for Perenti (ASX:PRN) shareholders?

The award represents a significant addition to Barminco’s Australian portfolio and provides long-term revenue visibility through a four-to-five-year horizon. Management indicates the deal supports their strategy for sustainable cash generation and future earnings growth.

What services will Barminco provide at the Bellevue Gold Project?

Barminco is responsible for the full scope of underground mining services required for the project’s ongoing development and production. This includes technical underground development, active gold production, and essential support services.

How much growth capital does Perenti (ASX:PRN) need to fund this project?

Perenti has outlined a requirement of approximately A$75 million in growth capital specifically for the 2027 financial year (FY27). This capital will support the necessary equipment and infrastructure to fulfill the contract's operational requirements.

What is the timeline for the Barminco and Bellevue Gold contract?

The contract officially commences on August 1, 2026, and runs for an initial term of 48 months. There is a built-in provision for a 12-month extension, potentially pushing the total partnership duration to five years.

Barminco wins $850M Bellevue Gold mining contract

Written by Liezl GambePublished May. 12 2026Last Updated May. 12 2026

Perenti (ASX:PRN) announced that its underground mining subsidiary, Barminco, has secured a major contract at the Bellevue Gold Project.

Valued at approximately $850 million, the deal spans an initial four-year term commencing on Aug. 1, with a provision for a 12-month extension.

The partnership follows a competitive tender process and signals the start of a long-term operating relationship between Barminco and Bellevue Gold (ASX:BGL).

Barminco is tasked with providing comprehensive underground development, production, and support services to facilitate the ongoing growth of the high-quality gold operation.

Perenti has outlined a capital requirement of roughly $75 million in growth capital for the 2027 financial year.

Perenti’s Managing Director and CEO, Mark Norwell, expressed enthusiasm for the collaboration.

Gabrielle Iwanow, President of Contract Mining at Perenti, echoed this sentiment, attributing the successful bid to the team’s 35-year track record of safe and reliable performance.