Peter Stokes

Mining contractor Barminco says an initial public offering is off the agenda until at least 2014, as it aims to re-finance its debts over the current financial year.

The two big mining contractors that dominate the underground sector have very different recent histories, but face similar challenges.

Mining contractor Barminco has won a three-year contract at Copper Mines of Tasmania’s Mount Lyell copper gold and silver mine.

FEATURE: Mineral Resources has shown the lengths to which mining services companies are willing to go to secure new work in the current flat market.

Perth mining contractor Barminco has won an extension to its contract with miner Western Areas to carry out $190 million of underground mining development and production activities at its Spotted Quoll and Flying Fox nickel mines.

Mining contractor Barminco has been affected by a weaker resources sector but has cut costs to grow its margin on a weaker revenue base.

Sirius Resources has chopped $30 million off the cost of developing its Nova nickel project after getting final prices from contractors, including Barminco, which started work at the remote site east of Norseman this week.

Mining contractor Barminco has posted a small increase in underlying earnings in the March quarter, as cost reductions and efficiency measures offset a dip in quarterly revenue to $123.9 million.

Mining contractor Barminco has won a $275 million contract to provide its services to the Northern Star Resources-majority owned Kundana gold mines in the Goldfields.

Private mining contractor Barminco has secured more work with Melbourne-based MMG, announcing a contract renewal worth up to $270 million.

Perth-based private mining contractor Barminco has posted a 30.7 per cent rise in operating profit for the 2016 financial year, with the company optimistic about prospects in the gold sector for the year ahead.

Mining contractor Barminco will continue providing its services to Western Areas’ Flying Fox and Spotted Quoll nickel mines under a $236 million contract extension.

Peter Stokes has tendered his resignation as chief executive of Barminco, with the mining contractor to begin searching for his successor.

Mining contractor Barminco has announced the recruitment of Thiess executive general manager Paul Muller as its new chief executive, succeeding Peter Stokes who resigned last month.