Sentula headline earnings flat, CEO sees volatile period ahead

JSE-listed mining services provider and coal miner Sentula Mining on Friday reported a R230-million loss for the half-year ended September 30, despite a 10% revenue increase to R1.35-billion. Headline earnings, which strip out certain one-off...

Budget cutbacks hit exploration drilling

Thirty of the company's 125 drilling rigs were idle as a result of cutbacks in exploration expenditure, Geosearch COO Buster Shipster said on Wednesday. Shipster told Mining Weekly Online that the cutback in exploration expenditure had begun to...

Consolidation and exploration the aim for 2008

Mining exploration and drilling company Geosearch is looking at 2008 as a year of consolidation, while still making inroads into exploration areas where the company previously had only a passing interest.

Scharrig looking to optimise operations, deepen service offering

Mining services company Scharrig Mining says its short-term focus is on integrating the acquisitions it concluded the last year and pursuing further opportunities that are consistent with its growth strategy.

Scharrig buys further 8% of Geosearch for R50m

South African mining services company Scharrig Mining (Scharrig) on Thursday announced the acquisition of a further 8% in Geosearch Exploration and Drilling in exchange for R50-million worth of Scharrig ordinary shares.

Schamin issues 11,5m shares, raises R153m

Mining services company Scharring Mining (Schamin) has issued a total of 11,5-million shares at R13,30 a share, raising a total of R153-million to be used for “certain opportunities that have come up in the company”, the firm said on...

Mining service group growing by acquisition

In recent months South African mining services company Schar-rig Mining has significantly expanded its client base, and range and area of operations, through a programme of acqusition of other companies.

'Where the elephants are'

Scharrig Mining’s acquisition of exploration-drilling company Geosearch will help the company target further African growth opportunities.

Scharrig to buy largest African exploration firm

JSE-listed mining services company Scharrig Mining today announced the acquisition of Geosearch, the largest exploration drilling operation in Africa for a cash consideration not exceeding R380-million as part of its pan-African mining strategy.

Exploration boom triggers contractor's expansion

The current boom in platinum mining and exploration has resulted in the dramatic expansion of exploration drilling contractor Geosearch, of Johannesburg.