Barminco confirms $275 million gold contract
- 22 June 2026
Perenti underground mining business Barminco has confirmed a A$275 million (US$192 million), 45-month contract at the proposed US$1.7 billion Fourmile gold project in Nevada, USA – an expanding part of the world’s “largest hard‑rock underground mining market”.
Fourmile owner Barrick Mining Corporation has previously scheduled decline development to start in the second half of this year and is targeting a 2030 mine commencement. Annual production of up to 750,000 ounces of gold by 2034 is anticipated.
Fourmile is near the Nevada Gold Mines’ (61.5% Barrick and 38.5% Newmont) owned Goldrush mine where Barminco won its first US contract early last year.
The Perenti unit also started working for Newmont in 2021 at the Red Chris gold-copper mine in British Columbia, Canada.
ASX-listed Perenti, a A$2.25 billion company, generated about 5% of its fiscal 2026 (to December 31, 2025) first-half revenue of $1.73 billion in North America, versus 56% in Australia and 39% in Africa. The group has an estimated $7.5 billion job pipeline in Australia; $6 billion in North America.
That is now seen to be growing fast.
“The North American market is the largest hard‑rock underground mining market globally and Fourmile represents another important step in our growth strategy,” Perenti contract mining president Gabrielle Iwanow said.
CEO Vanessa Torres said the contractor was looking to expand its relationship with Barrick through Fourmile.
“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,” she said.
Perenti has earmarked A$39 million of FY2027 growth capital for Fourmile.
It has guided for FY2026 capex of c$325 million, underlying EBITA of $335-350 million and full-year revenue of up to $3.55 billion.
