Master Drilling announces new board nomination
JOHANNESBURG (miningweekly.com) – Hennie Faul, who has particularly deep insight into the copper mining industry in South America, has been nominated for appointment to the board of Master Drilling, which operates extensively in Latin America.
JSE-listed Master Drilling stated in a stock exchange news service (SENS) announcement on Tuesday that its board had approved Faul's appointment as an independent nonexecutive director, effective from June 9, subject to annual general meeting approval.
A former Anglo American CEO Copper in Santiago, Faul holds a string of mining and metallurgical degrees, professional qualifications and other board positions, including the chairpersonship of AA, a multifaceted South American joint venture between AngloAmerican, Mitsubishi, Codelco and Mitsui; Quellaveco joint venture between Anglo American and Mitsubishi in Peru; and Compañía Minera Doña Inés de Collahuasi joint venture between Anglo American, Glencore and Mitsui.
Headquartered in Fochville, Master Drilling, headed by CEO Danie Pretorius, is a rock boring and drilling services provider on many continents, focusing on innovation, tailored solutions and diversification.
The company recorded an increase in revenue of 6.9% to $148.3-million in the 12 months ended December 31, along with a 5.1% decrease in operating profit to $22.4-million, but managed to maintain a $142.1-million order book along a $297-million project pipeline.
Master Drilling recently obtained Competition Commission approval to acquire Geoserve, which is expected to increase its access to exploration drilling, reverse circulation drilling, geotechnical investigations and grade control drilling services.
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