Africa is proving to be a steady source of revenue as South America is hit hard by the global pandemic
Master Drilling is in for a “bumpy ride” in the second half of 2020 after it took a battering from the Covid-19 pandemic in key markets, most particularly South America, in the first six months of 2020.
Master Drilling pushed up its cash slightly to $21m from $19.7m as it focused on calling overdue payments, said CFO Andre van Deventer. One ray of hope was the pending signature of a contract with an SA mining company to deploy the innovative mobile tunnel boring machine, which had been tested for a few months at Northam Platinum’s Eland mine.Master Drilling had the tunnel borer at its yard in Fochville near Carletonville in Gauteng where it was ironing out a few issues that had come up during the Eland testing, said CEO Danie Pretorius.
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