Deep sea mining puts $560 billion in land extraction at risk — report
Deep sea mining is expected to negatively affect countries that mine metals on Earth, risking over $560 billion in annual export earning, […]
Foraco wins $76M deep directional drilling contract with BHP Olympic Dam
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 contract is for exploration and evaluation drilling services near Olympic Dam mine complex in Australia. The deposit contains significant amounts of gold, copper and uranium.
The contract is signed for a three-year period plus two optional years as an extension. It will involve a total of five rigs, most of them being remotely operated, and has a total face value of approximately $76 million (US$60 million), excluding options. If the two-year options are exercised, the face value could reach $114 million (US$90 million).”We have been working hard to market our technical expertise in deep diamond directional drilling services around the world for nearly a decade now and are very excited to start a new relationship with BHP. This is a great reward for all our employees, field crews and support teams” said Daniel Simoncini, CEO of Foraco.
