Major Drilling Group Acquires Australia-Based Bunbury Drilling

MT newswire2026/11/02 13:00

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09:00 AM EST, 11/02/2026 (MT Newswires) -- Major Drilling Group International (MDI.TO) acquired of Bunbury Drilling, a mine dewatering drilling contractor based in Western Australia, for AU$70 million. The price consists of an upfront cash payment of AU$50 million and an additional AU$20 million that will be based on the achievement of certain EBITDA milestones, Major Drilling said Monday. The transaction allows Major Drilling to offer a new line of highly specialized drilling services to the mining industry while diversifying its revenue stream. The company's shares close down CA$0.68, or 4.6%, to CA$14.14 Friday on the Toronto Stock Exchange.

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