BHP’s Olympic Dam copper, gold and uranium mine in South Australia. Credit: BHP
Foraco International (TSX: FAR), a leading global provider of mineral and water drilling services, has been awarded a major contract with BHP Olympic Dam.
This contract is for exploration and evaluation drilling services near Olympic Dam mine complex, involving diamond drilling and is signed for three years firm plus two optional years extension. It will involve a total of five rigs, most of them being remotely operated, and has a total face value of A$80 million, or $60 million, excluding options. If the two-year options are exercised, the face value could reach $90 million.
