LONDON (ShareCast) - Emerging markets-focused drilling company Capital Drilling has announced two new contracts wins, which are serving to spur its stock quote sharply higher.

The mining services firm has secured its first contract with BHP Billiton, which will see it initially deploy three rigs for development drilling at the Cerro Colorado copper mine, which lies in the Atacama desert, in Chile. The contract is expected to run until late 2011 and the rigs will come from Capital’s existing fleet.

The company has also announced the award of a contract with Allied Gold, in the Solomon Islands, for one additional rig which has already begun development drilling. This contract continues to develop the relationship with Allied Gold. The rig required for this contract is also being sourced from its existing fleet.


ab

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE