Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
both_front.jpg
Capital Drilling, the emerging and developing markets drilling company, has been awarded two further contract wins and extensions. Capital Drilling Mauritania has recently been awarded a new development drilling contract with Kinross Gold in Mauritania, which represents a further expansion of activity at the Tasiat gold mine, where Capital Drilling has been drilling since 2010. The new contract is for two reverse circulation (RC) rigs, one of which has been sourced internally with the second newly purchased. Both rigs are expected to commence drilling in the first half of 2012. Elsewhere, Capital Drilling Chile has been awarded a contract extension in the form of additional rigs for development drilling at the Cerro Colorado mine in Chile. Capital Drilling commenced drilling for BHP Billiton in 2011. The extension calls for an additional two diamond rigs, which have been acquired and mobilised to site, with drilling expected to commence in January 2012.
