Boart Longyear Awarded US$70 Million Contract for the Kibali Gold mine

SALT LAKE CITY, Aug. 16, 2013 /PRNewswire/ -- Boart Longyear (www.BoartLongyear.com), the world's leading integrated exploration drilling services, equipment and performance tooling provider, has been awarded a contract for the exploration drilling services at the Kibali gold mine in the Democratic Republic of Congo (DRC). The contract has an expected duration of five years and value of up to US$70 million. Drilling is scheduled to commence immediately.

The Kibali gold mine is anticipated to rank as one of the largest gold mines in Africa. Located in a remote northeastern area of the Democratic Republic of Congo and operated by a joint venture of Randgold Resources, AngloGold Ashanti, and the Congolese parastatal, Sokimo, it currently has reserves estimated at close to 11 million ounces of gold.

During the life of the contract, Boart Longyear will deploy at least seven rigs at the site and provide a variety of drilling techniques, including deep diamond coring, reverse circulation and rotary rigs for mine dewatering.

"We have had a long-standing association with Boart Longyear. We value their technical expertise and ability to drill in the most challenging conditions, and, with their help, we have discovered five other world-class gold deposits in Africa," said Paul Harbidge, general manager, exploration for Randgold Resources Limited.

"The Kibali contract represents the strong partnership between Randgold Resources and our company," said Michael Napoletano, general manager of drilling services in Europe, Middle East and Africa (EMEA) for Boart Longyear. "It will form a core part of our already significant business in the DRC for several years."

To learn more about Boart Longyear Drilling Services, visit: http://www.boartlongyear.com/drilling-services.

About Boart Longyear

With over 120 years of expertise, Boart Longyear is the world's leading provider of drilling services, drilling equipment, and performance tooling for mining and drilling companies globally. It also has a substantial presence in aftermarket parts and service, energy, mine dewatering, oil sands exploration, and production drilling.

The Global Drilling Services division operates in over 40 countries for a diverse mining customer base spanning a wide range of commodities, including copper, gold, nickel, zinc, uranium, and other metals and minerals. The Global Products division designs, manufactures and sells drilling equipment, performance tooling, and aftermarket parts and services to customers in over 100 countries.

Boart Longyear is headquartered in Salt Lake City, Utah, USA, and listed on the Australian Securities Exchange in Sydney, Australia. More information about Boart Longyear can be found at www.boartlongyear.com. To get Boart Longyear news direct, visit http://www.boartlongyear.com/rssfeed.

Contact: Monika Portman
Director of Corporate Communication
Phone: +1 801-952-8451
Email: monika.portman@boartlongyear.com

 

SOURCE Boart Longyear



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