Perenti's (ASX:PRN) underground mining unit, Barminco, will conclude operations at the Khoemacau Copper Mine in Botswana when its current contract ends on June 30, according to a Tuesday filing with the Australian bourse.
Barminco will work with Khoemacau Copper Mining, a subsidiary of resources company MMG, to support the handover process, the filing said.
Under the contract terms, all equipment at the site will be sold to MMG at the end of the agreement, the filing added.
The final sale value will be determined using a pre-agreed formula, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.