https://www.miningweekly.com

Newly formed Thebe Turnstone to meet BBBEE thresholds

16th March 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Thebe Investment Corporation subsidiary Thebe Mining Resources (TMR) has acquired drilling company Turnstone Drilling, driving the group’s strategy of investing in businesses that provide critical services and supplies to mining sector.

Turnstone Drilling had an operational fleet of 40 surface drill rigs, with various drilling range capacities and a client base spread across all commodities, including precious metals, ferrous metals, base metals and coal.

Through this transaction, the new entity – Thebe Turnstone – would achieve broad-based black economic-empowerment (BBBEE) thresholds in line with the requirements of the Mineral and Petroleum Resources Development Act and the Mining Charter.

“There are growing opportunities to service mining companies, especially for majority black-owned companies. We believe that this transaction complements our strategy and contributes towards the growth of TMR’s portfolio,” TMR CEO Nonhlanhla Mabusela said in a statement on Monday.

Turnstone had drilling operations in South Africa and Namibia.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION