VANCOUVER (miningweekly.com) – Multinational drilling equipment and services provider Boart Longyear has received an award of C$1.37-million from the Ontario government to help improve safety at mineral exploration drilling sites and the efficiency of drilling systems technology.
The Salt Lake City, Utah-headquartered company said the Northern Ontario Heritage Fund Corporation (NOHFC) made the investment to improve safety for drillers, increase efficiency, reduce drilling costs and create jobs once the products are commercialised.
"The Ontario government is very pleased that Boart Longyear's management team has chosen the Sudbury region for its newest research and development facility," Northern Development and Mines Minister Michael Gravelle said at the MineExpo International conference in Las Vegas.
The NOHFC funding, as well as a matching corporate capital investment, will enable Boart Longyear to test and develop several proprietary technologies, including driller-deployable geochemical technologies and other new technologies that will increase productivity, at its Northern Centre for Advanced Technology.
Boart Longyear has six manufacturing facilities globally, including in North Bay and Mississauga, Ontario.
The company last month reported a 20% year-on-year decrease in revenues for the half-year ended June 30, mainly driven by lower volumes as miners slashed exploration budgets in recent years, as well as unfavourable currency translations owing to the strengthening greenback.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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