Modern Mining September 2018

SHAFT SINKING AND RAISEBORING

Raiseboring specialist grows in ica and 13 % from other countries, mainly in Europe and Asia.

JSE-listed raiseboring specialist, Master Drilling Group, has managed to keep its head well above water despite the current difficult conditions in mining (particularly in South Africa), recording an 11,3 % increase in revenue to US$67,4 million and a 6 % increase in operating profit to US$12,9 mil- lion in the six months ended 30 June 2018 (H1 2018). The group – which is regarded as one of the biggest raisebore contractors in the world – has 128 raisebore rigs in its fleet, as well as 34 exploration type (or ‘slim’) drill rigs.

The geographical diversification of the group has helped it to remain resilient in the face of an ever-shrinking proportion of its revenues being derived from its home market. South Africa now accounts for only 22 % of revenue compared to around a third several years ago and this figure is likely to decline further as only 10 % of its potential order book is based on South African projects. Apart from its geographical diversification, Master Drilling can also boast a high degree of commodity diversification. During H1 2018, it worked on projects in copper (35 % of rev- enue), gold (23 %), iron ore (16 %) and silver/ lead/zinc (14 %), as well as a host of other metals and minerals, including platinum, diamonds, coal, lithium and nickel. Over the reporting period, mining accounted for the bulk of its business (94 % of revenues) with

F ounded in 1986 by the current CEO, Danie Pretorius, Master Drill- ing is based in Fochville on the West Rand but has a global foot- print, with operations in over 20 countries. Over the reporting period, 34 % of its revenue came from Africa, 42 % from South America, 11 % from Central and North Amer-

Master Drilling’s GM in the United States, Robert Schumm, with the cutter head of a reverse circulation blind shaft boring machine at one of Master Drilling’s US contracts.

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44  MODERN MINING  September 2018