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Capital Ltd on Thursday said it has won a new borehole drilling contract at the Reko Diq copper-gold project, alongside additional exploration and laboratory service deals across Africa and North America, as it reports strong operational momentum in the second quarter. The London-listed mining services company said it secured a three-year borehole drilling contract, with an optional one-year extension, from Reko Diq Mining Company Ltd, operated by Barrick Mining Corp, formerly known as Barrick Gold. The contract covers the drilling, casing and development of production water holes, and marks a new revenue stream for Capital. A specialist water bore drilling rig from Italian manufacturer Fraste has been delivered and is currently being commissioned on-site. Executive Chair Jamie Boyton said the latest contract ‘further underpins our strong operating relationship with Barrick’ and reflects a ‘successful initial ramp up’ of Capital’s mining contract at Reko Diq, which began in April. In addition to Reko Diq, Capital announced a series of short-term exploration drilling contracts with Allied Gold in Cote d’Ivoire, Toubani Resources in Mali and the International Continental Scientific Drilling Program, or ICDP, in Gabon Its laboratory division, MSALABS, has also expanded, completing installation of a new commercial facility in Elko, Nevada. The site includes its third Chrysos PhotonAssay unit and began processing samples in June. MSALABS received a two-year extension for its on-site lab contract with Kinross at the Tasiast gold mine in Mauritania, and secured a new three-year fire assay services contract with WIA Gold’s Kokoseb gold project in Namibia. Capital said the ramp-up of its mining operations at Reko Diq is progressing well, with the first tranche of equipment from Egypt’s Sukari project arriving on-site, and the Gabon fleet fully deployed since April. Capital said it will provide a full second-quarter trading update on July 17. Its shares were 11% higher at 84.00 pence in London on Thursday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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