Tag Archives: Kalgoorlie Consolidated Gold Mines

SRG Global continues engagement with Kalgoorlie Super Pit after signing pact with Northern Star

Mine operation news, Mining services, Precious metals, , , , ,

SRG Global Ltd’s 25-year history with the Kalgoorlie Super Pit in Western Australia is set to continue after it signed a new five-year term contract with the mine’s current owner, Northern Star Resources.

The agreement is one of two new contracts – the other with Meridian Energy – the ASX-listed company has secured, which are valued at circa-A$90 million ($63 million).

The scope of works of the Northern Star contract includes the provision of geotechnical ground support, rock fall protection systems, depressurisation drilling and rope access services at the Kalgoorlie Consolidated Gold Mines gold operations. The contract will commence immediately and is expected to complete in 2027.

David Macgeorge, Managing Director, said: “The Northern Star contract continues SRG Global’s over 25-year history at the Kalgoorlie Super Pit and provides a platform to further strengthen our relationship with Northern Star through the provision of geotechnical services.”

DDH1 drilling contractor debuts on ASX after stellar IPO

Explosives and blasting, Mining equipment, Mining finance, Mining services, , , , , , , , , , , , , , , , ,

DDH1 Ltd has officially commenced trading on the Australian Securities Exchange following an initial public offering last week that saw the drilling contractor secure gross proceeds of A$150 million ($115 million) through the issue of around 40% of its shares.

The IPO proceeds were used to allow existing shareholders to realise part of their investment in the company and to repay company borrowings, the company said. The IPO was one of the largest by a Western Australia-based business in the past decade, according to DDH1.

“The ASX listing marks a significant milestone in the evolution of DDH1, which was established in Perth in 2006 with the vision to create Australia’s premier mineral drilling contractor,” the company said. “Over time, DDH1 has earned the custom of Australia’s premier mining companies through its repeated and meticulous service offering of gathering the critical geological data that supports the decision making in respect of all mining activity through the complete cycle of a mine’s life.”

DDH1 has a portfolio of approximately 102 clients, with a financial year 2020 pro-forma revenue of A$249.8 million. Its earnings are diversified across multiple commodities and geographies, with a client base that includes Newcrest Mining, BHP, Evolution Mining, Gold Fields, Independence Group, Kalgoorlie Consolidated Gold Mines, Newmont Corp, Ramelius Resources, Rio Tinto, Roy Hill Iron Ore and St Barbara.

It offers both surface and underground drilling services, with diamond coring and reverse circulation rigs on offer.

Sy Van Dyk, DDH1’s Managing Director and CEO, said: “The growth and success of DDH1 to date is testament to the commitment of the whole team, which strives to ensure the safety of all stakeholders while delivering exceptional service to our clients.

“Our long-term client relationships are built on the provision of quality drilling services and a deep understanding of our client’s business needs. The company’s significant market position reinforces the strong levels of industry recognition.”

He concluded: “There is growing demand in the Australian mineral drilling sector for DDH1’s services because of increased exploration, development and production spending by minerals exploration and mining companies. As an ASX-listed company with a strong balance sheet, a committed shareholder base, a disciplined approach to growth and access to capital markets, DDH1 is well positioned to pursue its growth strategy.”