Foraco International says it has been awarded a three-year contract estimated at $34 million from Glencore to provide comprehensive drilling services at its Lomas Bayas 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 says. The company will mobilise a minimum of four rigs to support a wide range of drilling activities, including reverse circulation and core drilling, strengthening Foraco’s footprint in the region, it added.
Mobilisation activities are already underway, and drilling operations are scheduled to commence in the coming weeks. Foraco says it has operated in Chile for over 25 years and is recognised 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,” Tim Bremner, CEO of Foraco International, said. “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-capitalised producers and developers that aspire to expand drilling programs, with copper and gold prices near all-time highs.”
Lomas Bayas is located in the heart of Atacama desert, in the commune of Sierra Gorda, 36 km east of Baquedano, in the Antofagasta Region. Despite operating with one of the lowest copper grades in the country (0.23%), the open-pit mining operation has shown that it is possible to innovate, optimise processes and generate economic, social and environmental value, it says.
