Currently viewing Global edition

Ausdrill drilling deeper into Africa

Ausdrill (ASX: ASL) will continue to aggressively pursue growth in Africa after the continent surpassed Australia as the company’s biggest revenue source in fiscal 2017. “With A$250 million cash and a bank facility of $200 million, we have the funds to support new contracts,” exiting chairman Terry O’Connor said at Ausdrill’s latest annual general meeting.

Ausdrill drilling deeper into Africa Ausdrill drilling deeper into Africa Ausdrill drilling deeper into Africa Ausdrill drilling deeper into Africa Ausdrill drilling deeper into Africa

Ausdrill's Africa revenue could make up 70% of the company's total in FY18

Managing director Ron Sayers told Mining Journal at the AGM significant new African contracts in the A$1.6 billion of work Ausdrill picked up in FY17 and "just cranking up now" and wo...