Perenti Limited has announced that through its Underground Mining Alliance joint venture—led by African Underground Mining Services Limited and Rocksure International—it has secured a five‐year contract worth approximately A$1.02 billion with AngloGold Ashanti plc. The new agreement, set to commence on 1 February 2025 and extend over 60 months, involves the delivery of underground development, production, and related mining services at the Obuasi Gold Mine located in Ghana’s Ashanti region. Notably, the contract carries no new growth capital requirement as major capital expenditure will be provided by AngloGold Ashanti. The announcement highlights the strength of the longstanding relationship between Perenti Limited and AngloGold Ashanti, emphasizing the company’s extensive operational experience and global reach in underground mining services. Executives at Perenti Limited have expressed optimism about the contract, citing it as further validation of the company’s reliable service delivery and its ability to generate enduring value for both clients and shareholders. The strategic alliance is expected to play a pivotal role in deepening collaborative ties, with company executives reiterating their commitment to supporting AngloGold Ashanti’s business objectives. Bullish sentiment stems from the contract’s significant value and long-term nature, which underscores investor confidence in Perenti Limited’s operational expertise and solid market presence. The collaboration with one of the world’s largest gold miners is seen as a reinforcing element for business stability and future growth potential. On the bearish side, some may view the reliance on a single major client and the inherent risks of operating in the volatile mining sector as concerns. However, given the robust contract terms and the shared capital investment by AngloGold Ashanti, many believe the agreement mitigates potential downsides. Overall, the new Obuasi mining contract is a milestone for Perenti Limited, positioning the company for continued success while bolstering its exposure to the lucrative underground mining services market.