Aussie contractor leaves Khoemacau

Mark Norwell, the CEO of Perenti which majority owns Barminco, was quoted this week as saying the company’s returns from the Khoemacau contract were less than target. Norwell reportedly said Barminco must maintain its” commercial discipline to enable consistent returns through economic cycles”.

Barminco was initially awarded a five-year underground mining services contract Khoemacau in December 2019 at a value of 800 million dollars. Last year, the contract was temporarily extended to June 30, 2025 with about 240 million Australian dollars still left in value.