08:11 AM EDT, 10/28/2025 (MT Newswires) -- Foraco International ( FRACF ) , a global provider of drilling services, announced Tuesday the award of three long-term contracts from Tier One mining customers in Canada and Chile, with a combined expected value of about US$150 million.

The company said each of these three-year contracts covers mine development and resource definition drilling and "encompasses a diverse range of services." The scope of work will engage up to four drills in Chile and 20 in Canada.

Mobilization activities are already underway in Chile. In Canada, the new contracts extend existing projects now renewed for a further three years.

Shares of the company closed down 3.3% to $2.08 on Monday on the Toronto Stock Exchange.