14th Dec 2015 09:12
LONDON (Alliance News) - Drilling services company Capital Drilling Ltd on Monday said it has secured a contract with London-listed Acacia Mining PLC to undertake production drilling at the Mara gold mine in Tanzania.
The contract is due to start on January 1 and will run for four years in total, generating revenue of around USD1.0 million per month for Capital Drilling.
Mobilisation on the contract has already started, with existing rigs already delivered to the site on a temporary basis and three further blast hole rigs to be delivered in coming months.
In addition to that deal, Capital Drilling has won extensions to its contracts with AngloGold Ashanti at the Geita Gold Mine in Tanzania, with London-listed Centamin PLC for the Sukari gold mine in Egypt and with Kinross for the Tasiast gold mine in Mauritania.
"We are very excited about this new partnership with Acacia. We have extensive experience in this region, and have proven we can deliver on our clients' expectations, even in challenging conditions. We now look forward to extending our safe and professional drilling services to the North Mara mine site," said Capital Drilling Chief Executive Mark Parsons.
Shares in Capital Drilling were down 1.1% to 23.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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