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Barminco secures 2 contract extensions worth A$335M at Gold Fields' Agnew mine

Ausdrill Ltd. takeover target Barminco Holdings Pty. Ltd. secured two four-year contracts at Gold Fields Ltd.'s Agnew gold mine in Western Australia.

The contracts extend each of Barminco's existing underground mining services and diamond drilling contracts through to 2022 and are collectively worth around A$335 million. Each contract includes an option for a further 12-month extension.

"These contracts will see Barminco extend its years of continuous service at Agnew to 12 years, having commenced operations at Agnew in 2010," Barminco CEO Paul Muller said in an Oct. 19 release.

In August, Ausdrill agreed to purchase underground hard-rock mining contractor Barminco in a A$271.5 million deal.