Capital’s team at Bulyanhulu Gold Mine Credit: Capital Limited/LinkedIn
Capital (LSE: CAPD), a leading mining services company focused on the African markets, announced the expansion of its operations at Barrick Gold Corporation’s Bulyanhulu Gold Mine in Tanzania with the award of two new contracts. The contracts include a five-year laboratory services contract for MSALABS, together with a two-year underground grade control drilling contract.
Capital commenced operations at Bulyanhulu in February 2020, undertaking a complex deep hole delineation drilling program resulting in an expansion of services, with two underground rigs added to operations from May. The new contract will expand the underground fleet at Bulyanhulu to four, utilizing two rigs from their existing fleet and including the acquisition of a further two underground rigs.
MSALABS will undertake initial laboratory design and deliver ongoing laboratory management and analysis services under the laboratory services contract. Analysis capabilities will include fire assay together with the new Chrysos PhotonAssay technology, which uses X-ray technology to determine the gold content of mineral ores more quickly and accurately than traditional methods.
‘We are very pleased to be expanding our services at the Bulyanhulu Gold Mine and continue our valued relationship with Barrick. It is particularly pleasing that our team’s successful execution of the initial deep hole drilling program has contributed to this expansion and we are now delivering multiple services at the site. This aligns to Capital’s growth strategy of expanding services with existing customers at established mine sites, with the laboratory services contract to contribute to an increase in the company’s non-drilling revenues,’ said Capital’s Executive Chairman Jamie Boyton.
The contracts are scheduled to commence on December 1, 2020, for a five-year term.
Read more: https://www.capdrill.com/investors/announcements