Business
Foraco International Awarded Multiple Three-Year Drilling Contracts Totaling US$150 Million in Canada and Chile
Foraco International Awarded Multiple Three-Year Drilling Contracts Totaling US$150 Million in Ca...
About this update from Foraco International Sa
[{"type":"text","content":"\n\n\nForaco International Awarded Multiple Three-Year Drilling Contracts Totaling US$150 Million in Canada and Chile\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Oct. 28, 2025 /CNW/ - Foraco International SA (\"Foraco\" or the \"Company\") (TSX: FAR), a leading global provider of drilling services, is pleased to announce the award of three long-term contracts from Tier One mining customers in Canada and Chile, with a combined expected value of approximately US$150 million.\n\n\n\n\n\n\n\nEach of these three-year contracts covers mine development and resource definition drilling and encompasses a diverse range of services — including large-diameter (9-inch) coring, deep reverse circulation, deep water wells, dual rotary, flood reverse, as well as surface and underground core drilling. The scope of work will engage up to four drills in Chile and twenty in Canada.\nMobilization activities are already underway in Chile, while in Canada, the new contracts extend existing projects now renewed for a further three years.\n\"We are very pleased to have been awarded these three projects, all within a relatively short timeframe,\" said Tim Bremner, CEO of Foraco International. \"These awards reflect Foraco's ability to deliver a highly diversified range of drilling services at a single mine site, along with the mutual trust we have built with each of these customers over the years. They also validate our strategic focus on securing long-term partnerships with Tier One customers operating in stable, safe jurisdictions. Tim Bremner added that Foraco's tender and bidding pipeline continues to strengthen, supported by well-capitalized mining producers and developers expanding drilling programs amid copper and gold prices near all-time highs.\"\nAbout Foraco International SA\nForaco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into t...