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Exploration drilling contracts - 22/09/2008
Two significant exploration drilling contracts in West Africa worth more than £50m have been awarded to a Yorkshire construction and engineering contractor.
Amco Drilling, a subsidiary of Amco Group Ltd, based in Barnsley, said the new contracts were a result of the global boom in demand for commodities, in particular gold.
The first contract is with South African mining giant AngloGold Ashanti at its open-pit mine at Siguiri in Guinea. Amco Drilling has been providing exploration and grade control drilling services at the mine since 2001 and the latest award extends the contract to the end of 2010.
The second contract is with Red Back Mining Inc. at the Tasiast gold mine in Mauritania.
The combined turnover from these contracts is expected to exceed £20 million per annum.
David Jackson, managing director of Amco, commented: “The Group is well placed to capitalise on the current economic trends. The drilling division is clearly benefiting from the growth in world commodity demands.”
