Foraco International SA announced it has been awarded a major contract with BHP Olympic Dam. This contract is for exploration and evaluation drilling services near Olympic Dam mine complex, involving diamond drilling and is signed for 3 years firm plus 2 optional years extension. It will involve a total of 5 rigs, most of them being remotely operated, and has a total face value of AUD 80 million AUD, or USD 60 million, excluding options.

If the 2 year options are exercised, the face value could reach USD 90 million.