en.Wedoany.com Reported - The AMAX joint venture, operated by Perenti subsidiary African Mining Services (AMS), has reached an agreement with AngloGold Ashanti to sell its mining fleet at the Iduapriem gold mine in Ghana. The transaction is part of the Iduapriem mine transition plan, with AMS handing over the fleet after the current contract period ends.

Since 2018, AMS has been providing mining services for the Iduapriem open-pit mine through local joint venture partner MaxMass. Under the new agreement, AMAX will continue to provide open-pit mining and related services until the contract concludes, with the transition period expected to last approximately six months starting from July 17, 2026. Perenti's President of Contract Mining, Gabrielle Iwanow, stated that finalizing the transition agreement with AngloGold Ashanti is an important step in the development of its contract mining portfolio. The AMS team is proud of its performance over the past eight years and will continue to provide professional services until the operational handover.

Upon contract completion, most of the equipment owned by AMS at Iduapriem will be transferred to AngloGold Ashanti, with the valuation method for the fleet sale agreed upon in the contract. AMS expects the sale proceeds to range between A$30 million (US$21 million) and A$40 million, with the contract value approximately A$95 million. Perenti Managing Director and CEO Vanessa Torres stated that the agreement reflects AMS's long-standing operational delivery and enduring partnerships in Africa, with the equipment sale providing certainty and creating opportunities for capital recycling.

In April this year, Perenti also extended its contract with Regis Resources to continue providing underground mining services at the Duketon operation in Western Australia.