Thebe Mining Resources, a mining division of Thebe investment Corporation, acquires a 100% of Turnstone Drilling (Pty) Ltd.

Turnstone Drilling (Pty) Ltd was started in 2007 by Cornelus S Louw. Since then the company has grown and has a very capable and effective exploration fleet. In 2013, the company acquired the Murray & Roberts ultra-deep hole exploration drilling division. This allowed the company the ability to drill to depths from 0 – 5000 meters core drilling.

The 100% acquisition by Thebe Mining Resources is in line with its strategy, which is to invest in businesses that provide critical services and supplies to mining sector. “There are growing opportunities to service mining companies, especially for majority black owned companies. We believe that this transaction compliments our strategy and contributes towards the growth of TMR’s portfolio,” said Nonhlanhla Mabusela, CEO of Thebe Mining Resources.

Under the transaction the same management is retained in Turnstone Drilling. The new entity will trade as Thebe Turnstone. Through this transaction Thebe Turnstone will be empowered in line with the requirements of the Mineral and Petroleum Resources Development Act (MPRDA) and the Mining Charter.

“The drilling services industry is a contract based industry which provides third-party drilling services to mining industry participants and customers in various other fields. 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,” continues Mabusela.

Thebe Turnstone head office is situated in Fochville, which is part of the North-West Province. The company has an operational fleet of 40 surface drill rigs, with various drilling range capacities. 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.

Piet Lombard the new Thebe Turnstone CEO says, “In my 26 years’ experience in this industry, it is my belief that having the right relationship is key to success. Being part of the Thebe family will bring the best out of the team and explore bigger opportunities in the sector”.Thebe Turnstone’s client base is spread across all commodities, mainly Precious Metals, Ferrous Metals, Base Metals and Coal.The drilling operations are currently in South Africa and Namibia, adhering to high industry standards, in terms of Safety, Health, Environment and Quality.