Loss of key contract will hit Master Drilling earnings
Company plans to redeploy machines from the Kumba mine as quickly as possible after termination of the Kolomela deal
10 September 2019 - 19:08
The loss of the Kolomela iron ore mine drilling contract will cost Master Drilling up to 15% of its revenue, executives said on Tuesday.
Anglo American subsidiary and JSE-listed Kumba Iron Ore terminated Master Drillings’ contract at Kolomela unexpectedly a few weeks ago despite the company complying on safety, BEE, local procurement and technology aspects, CEO Danie Pretorius said...
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