Master Drilling CEO: We see growth opportunities in these African countries

Drilling services company Master Drilling has reported a 3.8% increase in revenue, driven by the recent acquisition of the Atlantis group. Despite this positive news, the South African market remains a challenge for the company, with a 14.7% drop in interim profit. The company's CEO, Danie Pretorius, discussed the company's performance and future growth opportunities in a recent interview with CNBC Africa. Pretorius highlighted the company's involvement in a groundbreaking project involving the world's deepest mine. With a raise bore machine operating 3.2 kilometers underground, Master Drilling has been at the forefront of autonomous and remote operations in the mining industry. While South Africa's market has shown signs of improvement, with increased activity in the platinum and gold sectors, Pretorius emphasized the impact of the Atlantis acquisition on the company's revenue. He mentioned specific projects in Canada, Ghana, and Kamua that contributed to the revenue boost. Discussing the challenges posed by global trade volatility, including the ongoing trade war initiated by the US president, Pretorius acknowledged that some clients are hesitant to invest capital amidst the uncertainty. However, he remains optimistic about opportunities in countries like Russia, Australia, and Canada, citing the stability and potential for growth in these regions. When asked about opportunities in African countries, Pretorius identified the Democratic Republic of the Congo (DRC) as a promising market. He noted increasing inquiries from the region, alongside ongoing projects in Botswana. Despite the challenges in some African countries, Pretorius expressed confidence in the continent's improving stability and growing potential. In South Africa, Master Drilling is capitalizing on opportunities in the platinum sector, with new contracts and projects on the horizon. The company has secured orders for shaft sinking projects and borehole drilling, showcasing a positive outlook for business development in the region. As the mining industry continues to evolve, Master Drilling aims to leverage its expertise and innovative technologies to navigate global challenges and seize growth opportunities across Africa and beyond.