Foraco International Awarded 3-Year Drilling Contract at Glencore's Lomas Bayas Mine in Chile

Cision Canada

6 days ago

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.
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.
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.
"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 clients. Foraco's tendered and bidding pipeline continues to build, reflecting well-capitalized producers and developers that aspire to expand drilling programs, with copper and gold prices near all-time highs."
About Foraco International SA
Foraco 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 the third largest global drilling enterprise with a presence in 17 countries across five continents. For more information about Foraco, visit www.foraco.com.
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