November 5, 2025 marks the first anniversary of the acquisition of Latin America drilling company Explomin Perforaciones. This high-profile, successful transaction has yielded noteworthy results, strengthening Major Drilling by significantly expanding its South American market presence, boosting its rig fleet, and diversifying its service offerings. For Explomin, recently rebranded to reflect its association, it has gains in greater financial stability, access to a wider customer base, and the resources of the world’s largest mineral driller.
“We are extremely pleased with the successful acquisition of Explomin, which marks a significant milestone in Major Drilling’s strategic growth,” Denis Larocque, Major Drilling President and CEO, said. “Moreover, we’ve introduced several innovative technologies and safety protocols to Explomin’s operations, which have already begun to enhance efficiency and performance.”
He shared that the response from Explomin’s customers has been very positive as they see the benefits of Major Drilling’s specialized drilling solutions and commitment to innovation. “This acquisition is a powerful step forward in our journey to lead the industry in both service and innovation,” Larocque said.
The Explomin team hosts Major Drilling President & CEO, Denis Larocque, in Peru February 2025.
A United Vision: Expanding Horizons Across South America
With Explomin’s strong regional presence and Major Drilling’s global expertise, Major Drilling is well positioned to continue expanding in key markets like Peru, Colombia, and beyond. The partnership has both strengthened total operational capabilities across South America and brought onboard a highly experienced and dynamic management team that shares Major Drilling’s values and vision.
Explomin Executive Director Noe Vilcas shares this view as a respected business leader, geologist an established expert within the Latin American mining industry.
“In an industry where talent and teamwork are paramount, integrating two companies that grew in parallel—Explomin with over 2,000 Spanish-speaking professionals—could seem challenging,” he said. “Yet, the process has been smoother and faster than expected because Major Drilling and Explomin share similar cultures and values.”
Year One: Milestones, Momentum, and Market Leadership
Source: Coring Magazine
Continued management and operations remain in place. Explomin’s founder, Carlos Urrea, stays closely involved, and the company is led today by the talented management team of Noe Vilcas as Executive Director and Boris Quimper as General Manager. This provides continuity and allows the company to continue building its strong regional reputation under the new ownership.
Milestones since the acquisition include Coring Magazine’s November 2025 report of Major Drilling’s leading number of meters drilled among exploration drilling contractors in 2024. This top ranking reflects the combined strength of Major Drilling and Explomin.
Explomin customers can now recognize the company’s new relationship with Major Drilling through a new logo. The association as “a Major Drilling company” furthers Explomin’s total solutions for the industry which include nearly 100 specialized rigs for deep-hole, directional, and high-altitude drilling.
Denis Larocque (L) and Carlos Urrea in Peru, February 2025.
Innovation partner DGI Geoscience field teams and Explomin drill crews collaborate to drive impact and deliver results with Marcobre, owner of the Mina Justa Mining Unit.
Empowering People: Professional Development and Global Connections
At Major Drilling’s annual internal leadership program, Core College, Explomin managers joined the company for a week-long professional development and management training course. Since 2010, this special session brings together the company’s leaders around the globe, helping managers learn to develop their abilities in finance and leadership and create pathways to upward management opportunities.
Further combining of teams happened during PDAC 2025 in Toronto. Explomin’s offerings were showcased alongside Major Drilling where the two companies were able to connect in person, as one, with a worldwide audience for the first time.
Explomin managers joined Major Drilling at company headquarters in Moncton for Core College, a week-long professional development and management training course.
Stronger Together: Financial Growth and Market Expansion (TSX: MDI)
The acquisition is a boon—enhancing Major drilling’s diverse service portfolio, reflected in positive Q4 2025 results where revenue growth was strong in South and Central America of $187.5 million, an 11.6% increase year-over-year. From inception, financial prudence informed the partnership. The deal was funded by Major Drilling’s cash reserves and debt facilities, leveraging its strong balance sheet without any share dilution.
The acquisition adds Explomin’s expertise in specialized services and a stable underground drilling division, diversifying Major Drilling’s revenue streams. Indeed, the deal was immediately accretive adding to Major Drilling’s profits immediately, contributing positively to revenue and expanding its influence in the competitive mining sector.
Explomin, KORE Geosystems, DGI Geoscience and Major Drilling innovation, operations and marketing teams collaborate in Peru mid-year 2025.
Now, with a larger and more specialized rig fleet after adding more than 100 Explomin drill rigs, Major Drilling boasts a fleet of more than 700 drill rigs, solidifying its position as the world’s largest mineral driller.
Charting the Future: Building Legacies and Driving Innovation
Enhancing Explomin with a broader service network and access to Major Drilling’s financial resources needed for continued growth, while preserving and building upon its own legacy, has a powerful impact. The partnership is a way to position both companies for success and capitalize on opportunities together, with Major Drilling committed to preserving Explomin’s operational identity.
Now, with a larger and more specialized rig fleet after adding more than 100 Explomin drill rigs, Major Drilling boasts a fleet of more than 700 drill rigs, solidifying its position as the world’s largest mineral driller.
Charting the Future: Building Legacies and Driving Innovation
Enhancing Explomin with a broader service network and access to Major Drilling’s financial resources needed for continued growth, while preserving and building upon its own legacy, has a powerful impact. The partnership is a way to position both companies for success and capitalize on opportunities together, with Major Drilling committed to preserving Explomin’s operational identity.
Looking ahead, the union of Explomin and Major Drilling creates a powerful platform for ongoing growth and innovation in the global mining industry. By leveraging expanded expertise, a world-leading fleet, and a shared commitment to operational excellence, the partnership is positioned to meet evolving industry needs and deliver value to clients worldwide. As both companies embrace future opportunities, they remain focused on driving technological advancement and nurturing professional talent—ensuring their combined legacy continues to shape mining’s next era.
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About Major Drilling
Follow Major Drilling on LinkedIn, X, Facebook and Instagram to see company news and updates. Major Drilling Group International Inc. is the world’s leading provider of specialized drilling services in the metals and mining industry. The diverse needs of the Company’s global clientele are met through field operations and registered offices that span across North America, South America, Australia, Asia, Africa, and Europe. Established in 1980, the Company has grown to become a global brand in the mining space, known for tackling many of the world’s most challenging drilling projects. Supported by a highly skilled workforce, Major Drilling is led by an experienced senior management team who have steered the Company through various economic and mining cycles, supported by regional managers known for delivering decades of superior project management.
Major Drilling is regarded as an industry expert at delivering a wide range of drilling services, including reverse circulation, surface and underground coring, directional, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole, and surface drill and blast, along with the ongoing development and evolution of its suite of data and technology-driven innovation services.
