Geodrill wins 54 million USD contract in Egypt

February, 2022
Geodrill rig

West African drilling contractor Geodrill has been awarded a 54 million USD contract at Centamin’s Sukari gold mine in Egypt. The contract is for a minimum of 90 000 m (295 276 ft) of underground drilling per year and is expected to involve five drill rigs. Geodrill estimates revenues in excess of 54 million USD over its term, making it the biggest deal in the history of the company.

‘Not only does our business with Centamin complement our existing work it will also help us counter cyclical industry downturns while at the same time deliver a significant, stable base of long-term revenue over the next five years,’ Geodrill president and CEO Dave Harper stated.

Centamin’s Sukari gold mine is the largest and most modern mine in Egypt. It has produced over 5 million oz. of gold since opening in 2009 and today has a projected mine life of 12 years, according to Centamin.

With the contract in Egypt, Geodrill has further expanded its footprint in Africa.

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