Perenti record EBITA: contract pipeline and risk signals for mine owners
Reviewed by Joe Ashwell

First reported on Australian Mining
30 Second Briefing
Perenti has reported record 2025–26 EBITA of $340 million, a 2 per cent increase year-on-year and its fifth consecutive annual earnings rise, as the mining services group strengthens its balance sheet for further growth. Chief executive Vanessa Torres framed the result around disciplined capital allocation and a growing contract portfolio across surface and underground projects in Australia and Africa. For contractors and mine owners, the numbers signal continued demand for outsourced drilling, development and production services, with Perenti positioned to bid for larger, longer-tenure contracts.
Technical Brief
- EBITA of $340 million was delivered in FY2025–26, a 2 per cent year-on-year uplift.
Our Take
Perenti’s record A$340 million EBITA in 2025–26 comes in the same year it agreed to divest the BTP rental and parts business, suggesting the core underground and contract mining segments (notably Barminco) are now carrying more of the earnings load.
Recent wins for Barminco at Barrick’s Fourmile project in Nevada and Bellevue Gold’s underground mine in Western Australia indicate that Perenti’s earnings momentum is increasingly tied to long‑tenor, high‑grade underground gold contracts rather than shorter‑cycle open‑pit work.
The orderly exit from the AMAX joint venture at AngloGold Ashanti’s Iduapriem mine, alongside new contract awards in Australia and North America, signals a portfolio tilt away from some African open‑pit exposure towards jurisdictions and clients that typically offer more stable margins for contractors.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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