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    Contract Award

    Capital’s new Sukari waste-stripping contract: planning signals for mine teams

    February 25, 2026|

    Reviewed by Tom Sullivan

    First reported on International Mining – News

    30 Second Briefing

    Capital has secured a new waste-stripping contract at AngloGold Ashanti’s Sukari gold mine in Egypt, expanding its mining services portfolio alongside existing drilling and laboratory work. The award follows Capital’s recent fund-raising, with the company now starting to deploy this capital into additional fleet and capacity to meet what Executive Chairman Jamie Boyton calls a “highly favourable demand environment”. For mine planners and contractors, the move signals continued large-scale waste movement at Sukari and stronger competition in integrated drill–mine–lab service packages.

    Technical Brief

    • For similar large open pits, such bundled contracts can shift owner teams towards oversight and planning rather than execution.

    Our Take

    AngloGold Ashanti’s role at Sukari sits alongside its recent C$38.7 million equity move into Thesis Gold, signalling that while it is taking on more exploration risk in Canada, it is also locking in operating performance at established assets through contracts like this.

    Within our mining-projects coverage, AngloGold Ashanti appears more frequently in deal-flow and investment items than as a greenfield developer, suggesting its strategy is to leverage third-party contractors such as Capital to keep capital intensity lower at mature operations.

    For a contractor like Capital, a waste-stripping award at a long-life gold mine such as Sukari typically provides multi-year, high-volume work, which in our database often underpins fleet renewal and financing decisions even when no explicit capex figures are disclosed.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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