PYBAR enters co-marketing agreement in AfricaApril 5, 2016
PYBAR Mining Services has entered into a three year agreement with London Stock Exchange-listed drilling services company Capital Drilling Limited for the co-marketing of underground hard rock mining services in Africa.
Founded in 2004, Capital Drilling is headquartered in Mauritius and provides exploration, development, grade control and blast hole drilling services to mineral exploration and mining companies. The company currently has a fleet of over 90 drill rigs.
PYBAR will benefit from Capital Drilling’s expertise and relationships in the region where the company has been providing drilling services to mining operations for 15 years. In turn, Capital Drilling will benefit from PYBAR’s knowledge and competence in the provision of underground hard rock mining services.
PYBAR CEO Paul Rouse said: “Our focus remains on Australia however with a large number of projects seeking to move underground in Africa there is an opportunity to transfer our capabilities and best practice safety systems to a market which can benefit greatly from our expertise.
“Partnering with an established player such as Capital Drilling will facilitate any entry into the African market.”
Executive Director of Capital Drilling Brian Rudd said: “The agreement is a positive outcome for Capital and PYBAR and I am confident our complementary strengths will enable us to increase revenue and earnings.
“Importantly, our companies are also an excellent cultural fit. We have an uncompromising focus on safety, a solutions-focused approach and a commitment to providing customers with the most efficient and professional service. We look forward to working closely with PYBAR to provide our customers with integrated solutions for underground mining projects throughout Africa.”
In the event co-marketing efforts are successful in securing contracts in Africa, PYBAR and Capital Drilling will execute a formal commercial agreement determining how the projects will be undertaken.
About Capital Drilling; www.capdrill.com
Capital Drilling (LSE: CAPD) provides complete drilling solutions to customers within the global minerals industry including: directional; grade control; production; resource and development; and underground drilling services; together with geo technical capabilities.
The company has extensive experience in diverse operational environments – particularly emerging markets – within Africa, Eastern Europe, Asia and Latin America. Capital has earned a reputation for the quality of its machinery and operates one of the youngest rig fleets in the industry.
Central to Capital’s operations is an unwavering commitment to safety, professionalism and achieving operational efficiencies for its customers. Its personnel are trained to focus on achieving all project objectives, including delivering quality samples, high core recovery rates and improving drilling productivity.