Thebe Turnstone – the newest acquisition of Thebe Mining Resources
Thebe Mining Resources has recently acquired 100% of Turnstone Drilling (Pty) Ltd. This is in line with Thebe’s strategy to invest in businesses that provide critical services and supplies to mining sector.
“The acquisition of Turnstone drilling compliments our strategy and contributes towards the growth of TMR’s portfolio,” said Nonhlanhla Mabusela, CEO of Thebe Mining Resources. “Although the same management is retained as in Turnstone Drilling, the new entity will trade as Thebe Turnstone. Thebe Turnstone will be empowered in line with the requirements of the Mineral and Petroleum Resources Development Act (MPRDA) and the Mining Charter,” Nonhlanhla continues.
Turnstone Drilling was started in 2007 and has grown exponentially during the past 8 years. More than 400 000 meters, sizes PQ, HQ, NQ, BQ and CUD 76, were drilled throughout South Africa and Namibia since the establishment of the company. In 2013, the company acquired the Murray & Roberts ultra-deep hole exploration drilling division, which allowed them to perform core drilling to depths of 0-5000m. The company has an operational fleet of 40 surface drill rigs, with various drilling range capacities. Thebe Turnstone’s client base is spread across all commodities, mainly Precious Metals, Ferrous Metals, Base Metals and Coal.
The drilling services industry is an essential part of the mining industry. “Drilling services are employed by mining companies throughout all phases of a project’s lifecycle, including exploration, resource evaluation and feasibility studies, development and production,” Nonhlanhla explains. Drilling services is a contract-based industry which provides third-party drilling services to mining industry participants in various other fields.
“Having the right relationships and partners is key in this industry,” says Piet Lombard, CEO of the new Thebe Turnstone. “Being part of the Thebe family will bring the best out of the team and explore bigger opportunities in the sector. We are looking forward to continued success and growth.”