Perenti to pursue $8.8bn tender pipeline

Mining services group Perenti is targeting an $8.8 billion tender pipeline which will begin to materialise in the second half of the 2021 financial year.

The pipeline of new work includes tenders that are being “actively targeted” across the Industry Sector Groups’ (ISGs) underground and surface mining divisions.

Perenti announced the new tenders in an ASX report on its 2020 financial year results, which saw the company reach a record revenue of $2.04 billion.

Perenti managing director and chief executive Mark Norwell said the company’s order book provided a foundation for its 2021 financial year ventures, including the tenders its targeting.

“Our strong order book provides a solid base for FY21, which is enhanced by increased tender activity globally with a pipeline of $8.8 billion in targeted pipeline opportunities,” he said.

“This pipeline has been enhanced by the success of our regional expansion strategy, with our entry into North America, for example, opening the door to tender opportunities valued at $1.8 billion in that region.

“These tenders include major opportunities that are expected to commence in the second half of FY21, with Perenti to realise the full value in FY22, and beyond, if we are successful in winning this work.”

Perenti is also continuing to follow its 2025 group strategy, which includes maintaining strong operations, ramping up new products and improving performance at its surface mining business.

It has entered the 2021 financial year with $5.4 billion work in hand, plus $2 billion in contract rollovers and variations with existing clients that are under negotiation.

“The results and achievements reflect the dedication of our high calibre team and the strength of our operating discipline and I would like to thank our employees and their families for their support,” Norwell said.

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