Acquisition anniversary: Major Drilling solidifies regional leadership

November 5, 2025 marks one year since Major Drilling completed its acquisition of Latin American driller Explomin Perforaciones — a deal that has noticeably strengthened Major Drilling’s footprint in South America, grown its rig fleet and broadened its service offerings. Rebranded to reflect the new ownership, Explomin has gained financial stability, access to a wider customer base and the backing of the world’s largest mineral driller.

Denis Larocque, Major Drilling president and CEO, said: “We are extremely pleased with the successful acquisition of Explomin, which marks a significant milestone in Major Drilling’s strategic growth. Moreover, we’ve introduced several innovative technologies and safety protocols to Explomin’s operations, which have already begun to enhance efficiency and performance.”

Larocque added: "Larocque added that customer feedback has been strongly positive as clients respond to Major Drilling’s specialized solutions and focus on innovation. “This acquisition is a powerful step forward in our journey to lead the industry in both service and innovation."

A United vision: Expanding across South America

Combining Explomin’s regional reach with Major Drilling’s global capabilities positions the company to expand further in markets such as Peru and Colombia. The acquisition reinforced operational capacity across the continent and brought aboard an experienced management team aligned with Major Drilling’s values and strategy.

Explomin Executive Director Noe Vilcas commented: “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. Yet, the process has been smoother and faster than expected because Major Drilling and Explomin share similar cultures and values.”

Continuity and milestones in Year One

Leadership and operations have largely continued under existing management: founder Carlos Urrea remains involved while Noe Vilcas serves as executive director and Boris Quimper as general manager, preserving continuity as the company builds its regional reputation under new ownership.

Since the acquisition, Major Drilling and Explomin’s combined performance earned recognition in Coring Magazine’s November 2025 ranking of exploration drilling contractors, where Major Drilling led in metres drilled for 2024 — a reflection of the combined organization’s scale. Explomin customers can now recognize the company’s new relationship with Major Drilling through a new logo.

Explomin now markets itself with a new logo identifying it as “a Major Drilling company,” and its near-100 specialized rigs for deep-hole, directional and high-altitude drilling now contribute to Major Drilling’s broader solutions.

People, training and global connections

Explomin managers attended Major Drilling’s Core College leadership program at company headquarters in Moncton for week-long training in finance and leadership, joining peers from around the globe. Teams also presented together at PDAC 2025 in Toronto, marking the first joint global showcase of their combined offerings.

Financial impact and fleet growth (TSX: MDI)

The acquisition strengthened Major Drilling’s service mix and was accretive to earnings. Fourth quarter 2025 results showed robust South and Central American revenue of $187.5 million, an 11.6% year-over-year increase. The purchase was funded through Major Drilling’s cash reserves and debt facilities, avoiding share dilution.

Adding more than 100 Explomin rigs swelled Major Drilling’s fleet to over 700 drill rigs, reinforcing its position as the world’s largest mineral driller and diversifying its revenue through specialized and underground services.

Looking ahead

The integration aims to preserve Explomin’s operational identity while expanding its service network and tapping Major Drilling’s financial and technological resources. Together, the companies plan to leverage a larger, more specialized fleet, shared expertise and a commitment to innovation and talent development to meet evolving industry needs and deliver value to clients worldwide.