Master Drilling defies downturn with profit

Master Drilling Group defied the slide in commodity prices and business activity in the mining sector by posting an 11% increase in interim taxed profits of $10.4m.Master Drilling Group offers services in traditional drilling and exploration, but its flagship technology is raise bore drilling which allows for excavation between two underground levels.”The economic downturn in commodities caused us to rely heavily on the four strategic pillars of the group,” it said in comments to its interim results ended June 30.

Strategic progress during the first half of the year included the commissioning of the RD8-1500, the largest raise bore rig in the world, and expansion of geographical footprint into Ecuador and Colombia.

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