Perenti Ltd.’s African Mining Services (AMS) has expanded its footprint in Ghana after securing a new contract with AngloGold Ashanti through its AMAX joint venture, reinforcing the company’s position in one of Africa’s leading gold-producing markets.

The agreement covers an orderly transition of mining operations at AngloGold Ashanti’s Iduapriem Gold Mine. Valued at approximately A$95 million ($66.5 million) , the six-month contract began on July 17 and includes surface mining services, operational support, and the planned sale of AMS-owned mining equipment at the project’s conclusion.

AMS expects to receive between A$30 million ($21 million) and A$40 million ($28 million) from the sale of its mining fleet to AngloGold Ashanti under a valuation framework agreed by both companies. The transaction is expected to improve capital efficiency while allowing Perenti to reinvest in future growth opportunities.

Equipment sale supports growth strategy

Perenti Managing Director and Chief Executive Officer Vanessa Torres said the agreement reflects AMS’s strong operating history and long-standing partnerships across Africa. “The agreed sale of equipment provides certainty and enables us to recycle capital into several value-creating opportunities currently under evaluation,” Torres said.

Contract Mining President Gabrielle Iwanow added that the transition marks another milestone in strengthening Perenti’s contract mining portfolio. “The AMS team has delivered outstanding operational performance at Iduapriem over the past eight years and remains committed to ensuring a smooth handover while maintaining the highest service standards,” she said.

AMS deepens leadership in West African mining

AMS is one of West Africa’s largest contract mining companies, operating across Ghana, Mali, Burkina Faso, Guinea, Côte d’Ivoire, and Senegal. The company provides large-scale surface mining, equipment maintenance, drilling, logistics, and workforce development services.

The business also operates African Underground Mining Services (AUMS), supporting mechanized underground mining projects throughout the region.

Perth-based Perenti Ltd., listed on ASX employs more than 10,000 people across four continents, delivering surface mining, underground mining, drilling, and mining technology services for major commodities including gold, lithium, and nickel.

The Ghana agreement further strengthens Perenti’s presence in Africa’s mining sector as demand for experienced contract mining companies continues to grow alongside rising investment in gold production across the continent.