JOHANNESBURG (miningweekly.com) – In the six months to June 30, cash from the operating activities of Master Drilling soared 119.8% to $27.7-million.

The revenue pipeline of this Johannesburg Stock Exchange-listed tech-savvy company based in Fochville burgeoned to a record $599.6-million and committed orders for its adaptive drilling solution services from the mining, infrastructure and energy sectors in 29 countries hit the $271.4-million mark.

“We had a pretty good run,” an upbeat Master Drilling CEO Danie Pretorius commented during the company’s presentation of half-year results covered by Mining Weekly. (Also watch attached Creamer Media video.)

“Returns pretty much hit the key performance indicators, cash flows were okay, and the pipeline well filled. Everything’s well positioned for the next six months and maybe into 2025,” Pretorius added.

With engineering support ensuring a safer working environment for the workforce of 2 940, a record five-million fatality-free shifts were reported.

The half-year revenue was up 17.3% to $127-million and the progress made on the mechanical cutting front for the benefit of the mining sector was elevated high as the main achievement. “Great work done in mechanical cutting tech and that's going to move the needle for this business going forward,” Pretorius forecast, while ascribing the biggest-ever work pipeline to the transition to the green economy plus geopolitical uncertainties that are supporting precious metals.

"If you look at the order book, the company is well positioned to benefit from this transition."

With raise-boring still the flagship offering of the 38-year-old company, a close eye is always kept on the growth prospects in that technology. “I still believe there's room for more consolidation in raise boring.”

The number two and number three competitors have joined forces and the possibility for some of the juniors to do the same is something Master Drilling has on its radar amid pursuing organic growth by possibly expanding its raise-boring fleet.

On the slim-drilling front, an advance from being a slim-drilling exploration company to becoming more of a data provider is being mooted, along with the adoption of a slim-drilling integrated model, similar to the successful raise-boring model of the past 30 to 40 years, which involves design, manufacture and operation.

But helping miners to get to orebodies in record time is seemingly top-of-mind.

“Ten years ago, it was all about cost and efficiencies. Today, the discussion is about how we can help mining companies to fast-track access to orebodies, a very interesting discussion.

“If you look, see and get a feel of the requirement from the clients, I probably think we’ll keep ourselves busy with something that can really move the needle,” was how Pretorius described the likely go-forward outlook.

He also revealed that acquired digitiser A&R Engineering & Mining Supplies is operating at 120% of capacity, which is why building blocks are being put in place prior to its internationalization, which was promised but not achieved. “We do have some contracts in Mexico which we try to expand on, but it's probably going to be slower going forward.”

Strategy and work pillars have two common keywords – disruptive technology, which span four divisions.

More geographic diversification is also a want-to-have. “If we look back the last 40 years, geographic diversification has stood us in good state, and there’s no reason why we should not proceed to diversify the business into new geographies and to expand the 28 or 29 countries, adding one or two every year.”

Last year an office was set up in Saudi Arabia and Indonesia may become a next kid on the block going forward,

Regarding exploration, robotic manipulation of materials as a big safety initiative is being implemented.

Getting quality, accurate exploration information to decision-makers quicker is high on the agenda, Master Drilling technical director Koos Jordaan outlined, ahead of describing the current mining need as centering on providing fast and quality access to underground orebodies.

The company’s shaft-boring and tunnel-boring systems are all focused on speed.

Displayed was a cutter head being developed for African Rainbow Minerals, the diversified Johannesburg Stock Exchange-listed mining company headed by Dr Patrice Motsepe.

“Initiatives like this could significantly impact operations, doubling grade, halving the material that you move…and it allows you to work continuously and remotely,” Jordaan explained.

Digitisation is being implemented to enhance efficiency and the major benefit of a surface/underground ore drilling rig being commissioned is that it needs only about 5% of the water than conventionally required – “a huge benefit”.

Regarding driver fatigue management, hardware and software have been developed in addition to the company’s collision avoidance system fitted in vehicles, and that will monitor the fatigue of those operating the equipment.

Interest in investment in changing materials handling associated with drilling operations is based on the expectation that the improvement that this will bring about will be as far-reaching as the transition in manufacturing from manual lathes to machining centres, which eliminated the need for access to working tables and moving parts.

It is now expected to be the same with drill rigs, where access to drill feeds and foot clamps will no longer be required. “You are safely removed from those operations and also repetitive tasks like lowering and pulling rods will be done by robotic assistants,” said Jordaan.

Pulling inner tubes, assessing the core and logging it, could all be done in a safe area."Very exciting stuff,” he added.

A step-change shaft-boring system also on the way is set to have a positive impact on the feasibility of projects, with major improvement in the time taken to reach orebodies. “We’ve commenced steady-state operations within hard rock and in general it looks very positive. Working out of a starter frame is the key aspect of this technology. It's different to conventional shaft sinking, where you don't need to do a pre-sink, saving time and cost and reducing safety risk.”

Master Drilling makes a strong point of adding that, beyond its core technologies, it is strategically invested in asset-light digital ventures. These initiatives encompass proximity detection solutions and integrated data, and resource management systems specifically designed for mining operations.

These ventures have not only contributed to its financial performance but have also opened doors to new opportunities.

The total raise-boring fleet utilisation rate was around 75% while the slim-drilling fleet utilisation was around 25%. The rate of new rigs coming on board will settle with a focus on larger units, which typically generate higher income.