Barminco

Diversified mining services company Ausdrill has closed the $197.2 million transaction to acquire underground hard-rock mining contractor Barminco, representing an enterprise value of $697 million.

African Underground Mining Services (AUMS), a joint venture of Ausdrill and Barminco, together with Rocksure International, won a $375 million (US$530 million) five-year underground mining services contract at AngloGold Ashanti's Obuasi project in Ghana. The contract is expected to start in early 2019 and employ about 550 workers.

Barminco secured a four-year contract extension worth $240 million at Independence Group's Nova nickel-copper-cobalt mine in the Fraser Range, with an option for a two-year extension.

Australian mining services firm Ausdrill has signed an agreement to acquire all equity in underground hard-rock mining contractor Barminco Holdings for approximately A$271.5m ($197.2m). The deal includes assumption of Barminco's debt and is subject to shareholder approval.

Round Oak Minerals awarded Barminco Holdings a four-year mining services contract valued at approximately $95 million for the Mount Colin underground mine in Queensland. Barminco will employ up to 65 people for the project.

The African Underground Mining Services (AUMS) joint venture between Ausdrill and Barminco secured a $211 million mining services contract with SEMAFO at the Siou gold operation in Burkina Faso. The 70-month contract starts in Q3 2018.

Newmont Mining awarded a $280 million contract to African Underground Mining Services (AUMS), a joint venture of Ausdrill and Barminco, for underground mining services at the Subika mine in Ghana.