Foraco

Mining Drilling Servicesforaco.com

Foraco International SA is a France-based, TSX-listed global drilling contractor operating 255 rigs across 17 countries, providing surface, underground, and water drilling services to tier-one mining and water-sector clients.

Company typePublic
Founded1961
HeadquartersMarseille, France
Headcount1,001–5,000
GTM typeB2B
OfferingServices

What Foraco does

Foraco International SA is a France-domiciled, Toronto-listed (TSX: FAR) global drilling contractor serving the mining and water sectors. Founded in 1961, the company originated as a manufacturer of mineral drilling rigs for export to Africa and Brazil, pioneered the Vibro Percussive (Sonic) drill in the 1960s for the Trans Alaska Pipeline, and patented one of the first Reverse Circulation systems in the early 1970s. Today, Foraco operates a fleet of 255 drill rigs across 17 countries on five continents, employs more than 2,000 people, and is recognized as the world's third-largest mineral exploration drilling contractor.

The company's service portfolio is organized into three lines: Surface Drilling Services (surface coring, reverse circulation, rotary, directional drilling to 3,000m+, and sonic drilling); Underground Drilling Services (underground coring and production drilling including longhole stoping and grade-control RC); and Water Services (dewatering, water supply drilling, industrial water management, and large-scale village water programs). Its I³ innovation platform houses proprietary technologies including Large Diameter Flooded Reverse (LDFR) drilling, Measurement While Drilling (MWD) telemetry, wireless remote-controlled drill rigs (approximately 35% of the active fleet), and the next-generation NGBF 800 hydro rig.

Foraco generates revenue through project-based and multi-year drilling contracts negotiated directly with tier-one mining operators (Rio Tinto, Glencore, Vale, and unnamed U.S. gold producers) and water-sector clients. Pricing is contract-specific and not publicly disclosed. Recent contract wins include a US$74M Rio Tinto Iron Ore water drilling award in Australia, US$55M with Vale Canada, a three-year Glencore contract in Chile, and over US$60M with Tier-One U.S. gold producers in Nevada. The company exited Russia in 2023 and maintains offices in Lunel (France) and North Bay (Canada).

Foraco firmographics

Firmographics

Name: Foraco
Legal name: Foraco International SA
Website: https://foraco.com
Company type: Public
Founded year: 1961
Operating status: Operating
Headcount range: 1,001–5,000 employees
Short description: Foraco International SA is a France-based, TSX-listed global drilling contractor operating 255 rigs across 17 countries, providing surface, underground, and water drilling services to tier-one mining and water-sector clients.
Ownership category
akta.pro rank

Foraco industry classification

Industry

Product category: Mining Drilling Services
NAICS: Drilling Oil and Gas Wells (213111), Support Activities for Mining (21311), Oil and Gas Field Machinery and Equipment Manufacturing (333132), Support Activities for Mining (2131)
SIC: Drilling Oil & Gas Wells (1381), Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389)
akta.pro primary industry: Drilling & Workover Rigs (Land & Offshore) (EUALABAA)
akta.pro secondary industries: Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL), Well Construction & Completion Services (Cementing, Casing, Tubular Running) (EUALABAC)

Keywords

Mineral drilling services
Water well drilling
Exploration drilling
Mining support services
Drill rig operations

Where Foraco is headquartered

Location

Headquarters

HQ city: Marseille
HQ country: France
HQ region: Europe

Offices3 records

Markets served

Foraco business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Supply Chain

Revenue model

Mineral Drilling Services: Revenue generated from providing drilling services to mining companies across exploration, development, and production phases. Services include surface coring, reverse circulation, rotary drilling, directional drilling, and production drilling. Contracts are project-based and multi-year with tier-one mining operators.
Water Drilling Services: Revenue from specialist drilling services for drinking water, irrigation water, and industrial water. Includes dewatering services for mining operations and water supply drilling for municipal, agricultural, and industrial applications. Turn-key contracts for water production and distribution systems.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Foraco product offering

Product offering

Core offering

Foraco is a global drilling services company that provides drilling solutions for the mining and water sectors. The company operates a fleet of 255 drill rigs across 17 countries, employing more than 2,000 people to deliver exploration, production, and water well drilling services to industrial clients worldwide.

Product overview

Foraco International is a global drilling contractor providing integrated drilling services and products for the mining and water sectors. The company operates 255 drill rigs across 17 countries with over 2,000 employees. Its service portfolio includes Surface Drilling Services (Surface Coring, Reverse Circulation, Rotary, Directional, Sonic), Underground Drilling Services (Underground Drilling, Production Drilling), and Water Services (Dewatering, Water Supply Drilling, Industrial Water Management). The company differentiates through its I³ (Integrity, Innovation, Involvement) innovation platform featuring proprietary technologies including Remote Controlled Drill Rigs, Measurement While Drilling (MWD), Large Diameter Flooded Reverse (LDFR) drilling method, and the New Generation BF 800 (NGBF 800) Hydro Rig. Foraco operates as the industry's only integrated drilling services and products provider, combining engineering excellence with global manufacturing facilities.

Differentiator

Problem solved

Functional benefit

Products and services

Mining Drilling Services

Companies that use Foraco

Customer profile

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Foraco technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature4 records

Foraco partnerships and signals

Strategic signal

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Foraco competitors and assessment

Company assessment

Direct peers

Energold Drilling: Specialized mineral exploration drilling services company with operations across multiple continents. Comparable to Foraco's surface exploration drilling business, though with smaller fleet scale.
Orbit Garant Drilling: Canadian mineral drilling services contractor serving mining companies globally. Direct peer in surface and underground drilling with comparable project-based contract model and customer segments.
Perenti (formerly Ausdrill): Australian-based mining services contractor offering surface and underground drilling, with global operations. Competes head-to-head with Foraco in gold, copper, and nickel drilling projects in Africa, Australia, and the Americas.
Major Drilling Group International: Canadian-based mineral exploration and drilling services contractor with global operations. Direct competitor to Foraco in surface and underground drilling for major mining companies, with similar fleet-based service model and Tier-1 customer base.
Boart Longyear: World's largest mineral exploration drilling contractor and manufacturer of drilling products. Direct competitor across surface coring, RC, and underground drilling; also offers proprietary drilling tools and equipment analogous to Foraco's LDFR and MWD systems.

Regional players

Barminco: Australian underground mining services contractor owned by Perenti. Direct peer in underground drilling and production drilling, primarily focused on Australia and Africa.

Broad incumbents

Epiroc: Global mining and infrastructure equipment manufacturer with growing drilling services business. Competitor in drilling equipment and automation, and increasingly in drilling services contracts for major miners.
Atlas Copco: Industrial and mining equipment manufacturer with drilling solutions product line. Provides drilling rigs and equipment that compete with Foraco's in-house manufactured rig platforms.
Layne Christensen (Granite Construction): Water well drilling and dewatering services provider historically serving mining and municipal markets. Comparable to Foraco's water services segment for industrial and mining water supply drilling.
Sandvik Mining and Rock Solutions: Global mining equipment manufacturer and service provider offering drilling equipment, automation, and aftermarket services. Competes with Foraco both as an equipment supplier and increasingly as a drilling services provider.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Foraco compliance and trust

Trust signal

Compliance2 records

Foraco financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Foraco leadership team

Management profile

Number of profiles

Foraco funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Foraco M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Foraco

What does Foraco do?

Is Foraco a public or private company?

Foraco is a public company. It is classified as public and is currently operating.

When was Foraco founded?

Foraco was founded in 1961. It employs 1,001 to 5,000 people.

Where is Foraco based?

Foraco is headquartered in Marseille, France, in the Europe region.

How does Foraco make money?

Two revenue lines are on record. Mineral Drilling Services are the primary driver. The others are water Drilling Services.

Who are Foraco's main competitors?

Direct peers on record are Energold Drilling, Orbit Garant Drilling, Perenti (formerly Ausdrill), Major Drilling Group International and Boart Longyear. Barminco is listed as a regional player. Broad incumbents are Epiroc, Atlas Copco, Layne Christensen (Granite Construction) and Sandvik Mining and Rock Solutions.

Does Foraco have an API?

No public API is recorded for Foraco.

What industry is Foraco in?

Foraco's product category is Mining Drilling Services. Its primary akta.pro industry code is EUALABAA, Drilling & Workover Rigs (Land & Offshore), with a secondary code of EUALABAL, Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment). Its NAICS code is 213111 and its SIC code is 1381.