The Olympic Dam mine is a combined open-pit and underground mining project. Credit: BHP.

Foraco International has received a drilling contract for BHP’s Olympic Dam mining centre in South Australia, 560km north-west of Adelaide.

Under the contract, which has a face value of $60m excluding options, Foraco will undertake exploration and evaluation drilling services near the Olympic Dam mine complex.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The scope of work will involve diamond drilling. The contract has three years duration along with a two-year extension option.

Upon exercising the two optional years, the contract’s face value is expected to reach $90m.

Foraco plans to deploy five drilling rigs, most of which will be operated remotely, to perform the work.

See Also:

Foraco CEO Daniel Simoncini said: “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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We believe long term relationships with leading global companies like BHP are an efficient way to increase our profitability resilience while providing good quality professional life to our employees with who we can share a decent time horizon long enough to develop them, train them and make them safer and happier.”

Located in the Stuart shelf region of Southern Australia, the Olympic Dam copper-uranium mine is a combined open-pit and underground mining project.

Claimed to be one of the most significant deposits of copper, gold, silver and uranium in the world, the project features a fully integrated processing facility to extract metals.

In 2020, BHP abandoned its $2.5bn expansion plan for its Olympic Dam mine following ore body studies that determined weaker than anticipated results.