Epiroc secures seven-year service contract with Codelco in Chile
Epiroc has signed a seven-year, $68 million service contract with Codelco for mining equipment at the Andina mine in Chile. The deal is one of the largest ever for Epiroc's Mining and Rock Excavation Service division.
Epiroc has secured a major seven-year service contract with Codelco, Chile's state-owned copper mining giant, for equipment operating at the Andina mine near Santiago. The agreement, signed in the third quarter of 2019, is valued at $68 million (MSEK 665).
The contract includes on-site Epiroc service technicians dedicated to maintaining the mining equipment, including Epiroc's Pit Viper 351 and FlexiROC drilling rigs. This significant deal represents one of the largest service contracts ever awarded to Epiroc's Mining and Rock Excavation Service division, with revenues recognized over the contract period.
Codelco is the world's largest copper producer, and the Andina mine boasts the second-largest copper reserves globally, with both open-pit and underground operations. The agreement also includes potential future implementation of automation features, such as remote-controlled steering, for the existing equipment fleet.
This contract strengthens Epiroc's substantial presence in Chile and underscores its commitment to supporting the productivity and efficiency of major mining operations in challenging environments.