Can you provide an overview of MBI Global’s international presence?

MBI Global was created in 1992 with a focus on exploration drilling, particularly core drilling, as a distributor of various high-quality products. Over the years, we saw opportunities to enter the manufacturing segment of exploration consumables. From there, MBI Global gradually added manufactured products, and today, we are a full-fledged total solution core drilling and geotechnical drilling supplier that exports to over 30 countries. The company has a presence in over 15 countries, 12 of which are through distributors and three where we have our own shop, which are Canada, Chile, and Peru. We will continue to expand over the next three years and hope to export to over 60 countries by then. For exploration drilling, we want to be present in countries where influential mining companies have active projects. On the geotechnical side, given all the infrastructure and investment plans in Canada and the US over the next decade, we will strategically focus our sales here.

What commodities are currently driving growth for MBI Global in Québec?

Gold still represents over half of expenditures made for exploration globally. That said, we use copper as our barometer because it is a great tool to see where the economy is going in terms of infrastructure expenses. At the same time, we recognize the important role that rare earth metals are playing in electrification movements, and commodities like lithium are getting a lot more attention from investors in the Québec area. As the province is well endowed with several metals, MBI Global's demand is impacted accordingly.

How saturated is the Québec market when it comes to the number of drills available?

In Québec, manufacturers like MBI Global can sell drills. The greater impact on either the purchase or fabrication of drills, however, is the fact that most contractors in the province love to build their own machines. There is an element of pride here for drilling contractors to have a hydraulic or mechanical specialist in their team who can help them create their own recipe for success. Over time, as Québec is so attractive for drilling, when the high tide comes around there is a strong entrepreneurial spirit and new drilling companies may spring up. When it slows down, however, there can be a saturation of machines on the market. This is where Québec is now.

Why do your clients prefer to purchase drills from MBI Global rather than build their own?

MBI Global places significant focus on safety. We are working on rod handling systems for underground applications and a separate project for open pit. These innovations also open the workplace up for more diversity, as you no longer need to lift heavy weights for example. It is a goal of ours to attract more women into the mining industry.

Additionally, MBI Global is working very diligently on automation and the ability to collect data, which is useful not only for the drilling company but also the geologist at the mine. Our first autonomous drill is currently being used by one of the top five gold mining companies in Québec. Importantly, it gives the drilling contractor much more information because it optimizes drilling parameters to increase productivity and reduces costs of the use of consumables. It also helps the mine directly by providing consistency in those core samples. We have seen the contractor take their drillers who only have three years of experience, put them on the automated machine, and they can run their own shift. Additionally, the drilling contractor informed us that the machine has the second-best productivity shift compared with other non-autonomous drills at the mine site. From my experience, when a person has access to controls, they will always try to get as much as they can from a machine. It is human nature. With an automated package, once you identify optimal settings, you can let the machine go. The one current limitation of automation is that given the changes of geological structures, an experienced driller will be better than an automated package at reacting to those changing conditions. With AI now, however, we are closing that gap.