PRIVATELY-held mining engineering company SSC Group has bought a controlling interest in Lesedi Drilling & Mining Contracting Company and its subsidiaries, the company announced earlier this week.
“This acquisition highlights the significance of the integration of Lesedi Drilling into the SSC Group, emphasizing our commitment to economic empowerment, and positioning the company positively in the context of our group strategy and vision,” said Fred Arendse, CEO of SSC Group.
As a result of SSC’s investment, Lesedi Drilling has become 100% black-owned. “We believe that this acquisition will catalyse further progress toward economic equality, aligned with SSC’s strategy of building capacity throughout the mining value chain, fuelled by its ambition of ultimately owning and operating mines,” Arendse said.
SSC (Siyakhula Sonke Empowerment Corporation) is recognised in the mining sector as one of the companies seeking to reopen the Lily mine in Mpumalanga. A catastrophic accident at the mine in 2018 resulted in the deaths of three people. A legal wrangle which eventually led to the Constitutional Court last year has been fought to have creditors and victim’s families paid, and to reopen the mine.
Commenting on the Lesedi transaction, Arendse said: “We are confident that under the SSC Group’s structure and leadership, Lesedi Drilling will continue to thrive and set new benchmarks for success”.
Lesedi Drilling & Mining Contracting Company provides exploration diamond-drilling services to the South African mining industry.
