PERTH (miningweekly.com) – Global mining services group Perenti on Monday announced that it would recover A$10-million as a settlement for historical damages to a property in West Africa.
The property was damaged in 2004 by a fire on an adjacent property, and since then, the ASX-listed company has actively pursued a claim for damages.
The company has now entered into a settlement agreement, with the cash payment expected in the coming weeks.
“Since the formation of Perenti just over three years ago, our dedicated people have been systematically working through several legacy issues, primarily associated with the historical performance of the AMS business,” said MD and CEO Mark Norwell.
“I am very pleased that the efforts of our team have resulted in the resolution of this long-standing damage claim, delivering circa A$10-million of cash to the business and an uplift in 2023 statutory earnings.”