EDMS sell underground drilling division

Every Day Mining Services (EDMS) has sold its underground diamond drilling division to Swick Mining.

The sale comes as EDMS focuses more on its surface drilling activities with underground drilling accounting for only 5% of its annual revenue.

This $1 million sell of consists of several rigs, light vehicles, a work shop and inventory.

The division has 12 staff, all of whom were offered employment by Swick.

Proceeds from the sale will be used to pay down debt.

EDMS managing director Stephen McCoy said the contractor “recently undertook a strategic review of its businesses that has led to a renewed focus on EDMS’ surface fleet and other mine services.

“As a result the underground diamond drilling division was sold as it was non-core to the company’s future.”

Completion of the sale is scheduled for the end of the week.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.