Business
Foraco International Awarded 3-Year Drilling Contract at Glencore's Lomas Bayas Mine in Chile
Foraco International SA ("Foraco" or the "Company") (TSX: FAR), a leading global provider of drilling services, is pleased to announce that it has been awarded a three-year contract estimated at US34.0m for Glencore to provide comprehensive drilling services at its operations in Chile.
About this update from Glencore Plc
[{"type":"text","content":"TORONTO, July 21, 2025 /CNW/ - Foraco International SA ("Foraco" or the "Company") (TSX: FAR), a leading global provider of drilling services, is pleased to announce that it has been awarded a three-year contract estimated at US34.0m for Glencore to provide comprehensive drilling services at its operations in Chile.","length":337,"tagName":"p"},{"type":"image","alt":"Foraco logo (CNW Group/Foraco International SA)","displaySize":"","headline":null,"caption":"Foraco logo (CNW Group/Foraco International SA)","className":"","disableSlideshowImg":false,"size":{"original":{"width":331,"height":210,"url":"https://media.zenfs.com/en/cnwgroup.com/9c8df70a4e44f9f17aa55553fad5d56c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/8Yhu2eeCZd7C19YGG7F.6A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTQwNjtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/9c8df70a4e44f9f17aa55553fad5d56c","width":331,"height":210}},"href":"https://mma.prnewswire.com/media/2735016/Foraco_International_SA_Foraco_International%C2%A0Awarded_3_Year_Dril.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"This contract is for mine development and resource definition drilling as part of Lomas Bayas' development program and regional and near-mine exploration initiatives aimed at expanding and delineating new resources. Foraco will mobilize a minimum of 4 rigs to support a wide range of drilling activities, including reverse circulation and core drilling, strengthening Foraco's footprint in the region.","length":409,"tagName":"p"},{"type":"text","content":"Mobilization activities are already underway, and drilling operations are scheduled to commence in the coming weeks. Foraco has operated in Chile for over 25 years and is recognized for its expertise in providing versatile drilling solutions to major mining clients across the region.","length":284,"tagName":"p"},{"type":"text","content":""We are extremely proud to have been awarded this significant contract with Glencore," said Tim Bremner, CEO of Foraco International. "This win underscores the enduring relationship and mutual trust we have built with Glencore over many years. It highlights the strategic importance of Chile within our global operations and reflects our commitment to delivering safe, efficient, and innovative drilling solutions for our valued cli...