MINING
Master Drilling project orders in SA shrivel
SA makes up just 10% of Master Drilling’s list of potential orders as companies consider new projects
The persistent unsettled nature of SA’s mining environment and the hunt for fresh business has pushed Master Drilling’s exposure to its home base to a fraction of what it was. SA makes up just 10% of Master Drilling’s list of potential orders as companies consider new projects. The country contributes 22% of group revenue, down from more than 30% a few years ago. As SA’s leading drilling company offering services to the mining, hydro-electric and construction sectors both in SA and in key mining jurisdictions in Africa, South America and Europe, Master Drilling is a good barometer for the health of the mining industry. In SA, the picture is bleak, particularly in the gold and platinum mines, but Master Drilling hopes a three-to five-year extension of a drilling programme it has run for six years at Kumba Iron Ore’s Kolomela mine will underpin its fortunes in SA where it started business in 1986. The scenario in Africa, where Master Drilling makes the biggest gross profit, was no bet...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.