Tech in mining #8

Happy Sunday and hope everyone is doing well! Sharing below updates we have found interesting over the last two weeks 🙂

💰Investments/ Acquisitions:

  1. Ideon Technologies, a Vancouver based geophysical exploration tech startup raised $1.3M CAD seed round. Ideon is using a technique called Muon tomography that enables x-ray like visibility up to 1 km beneath the Earth's surface! This will be huge to reduce exploration drilling activity. More here

  2. Tumi Robotics, a Peruvian startup focused on specialized autonomous mining use cases, raised $250k USD from SF's HAX accelerator. Tumi has offered solutions to inspection and monitoring of high-risk activities using robots, computer vision, and AI. More here

  3. Revolution Mining software, a Canadian based mine planning software company, has been acquired by RPM Global, an Australian mining consulting company. We weren’t able to find the number of customers Revolution Mining software has. More here

🗞Interesting updates

  1. Minehub, a marketplace to connect buyers and sellers in metals and mining supply chain, announced a successful iron ore trade between BHP and China Baowu. Since most of these transactions currently happen manually, companies like Minehub are trying to digitize the process. Minehub uses IBM's blockchain platform as an underlying technology. More here

  2. Henan Yuex, a Chinese autonomous machinery company, is partnering with Contemporary Amperex Tech (CATL), a lithium battery manufacturer, to improve its autonomous electrical equipment. Its excavators are currently remotely operating at China Molybdenum mine. CATL holds nearly a third of the market share in global lithium batter sales! More here

  3. A new study, led by University of Hawaii, argues that deep-sea mining poses a consequential risk not only to the surrounding areas of the operations on the ocean floor but also to thousands of feet above the seafloor threatening the ecosystem there. More here 🌊

  4. Colorado State University and Arizona state university are partnering to develop practices for sustainable mine waste management and improve tailings education for younger engineers. They will also collaborate with UC Berkeley, Georgia Tech, and the University of Illinois. More here

  5. Sandvik announced its plan to launch the industry's first battery-powered rock bolter next year to further electrify underground mining. Miners can design a bolting pattern in the office, and transfer that to the bolter over wifi to carry out the pattern in a semi-automated fashion. More here

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Picture: Sandvik’s battery powerd Rock bolter DS412iE