Foraco lands $55m of Vale work in Canada

Canadian-listed Foraco International says new drilling contracts and “multi-year” extensions worth US$55 million have been secured with Vale Canada.

Foraco says the nickel-focused work, including exploration, resource definition and large-diameter rotary drilling, will keep about 30 rigs active at Voisey’s Bay in Labrador, Copper Cliff and Coleman in Ontario, and Thompson in Manitoba.

CEO Daniel Simoncini said Foraco had forged a 15-year drilling partnership with Vale in Canada around deep directional drilling technology.


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