Foraco International wins US$74 million water drilling services contract with Rio Tinto Iron Ore

Foraco International announced it has been awarded a contract with Rio Tinto Iron Ore.  

This contract is for water related drilling services in Australia's Pilbara region, involving both monitoring wells, dewatering wells and vibrating wire piezometers digital networks installation, mostly with flooded reverse circulation rigs. The contract is signed for two years firm plus three optional years extension.  

The contract involves a total of four rigs and a VWP grout unit, including Foraco’s new proprietary generation of BF800, the NGBF, a 60T pull remotely operated rig. The contract has a total face value of Us$74 million ($99 million), including options.  

 “We're very excited to extend our collaboration with Rio Tinto to help them to manage their mine's groundwater which is now seen as a critical and vital natural resource to be preserved and well managed,” said Daniel Simoncini, CEO of Foraco.  

To learn more, visit www.Foraco.com.