Periodic Reporting for period 2 - SensAI Mining (SensAI: The digital transformation of the mining industry that will enable access to critical metals and minerals needed for the green transformation)
Periodo di rendicontazione: 2023-05-01 al 2024-04-30
The mining industry must undergo a sustainability transformation to operate in a world that hopes to decrease humanity’s impact on the environment. Even more importantly, it is a key enabler for the broader move to a green economy - much more minerals and metals need to be discovered and mined to meet the demands of the new sustainable technologies. To do that, mining has to become more efficient and green. Another issue are the workforce shortages - especially for positions that are dangerous or demand being dispatched to remote sites for long periods of time. The industry has come to the realization that digitalizing its operations and introducing AI is necessary to enable change.
Drill core logging is used as important input for financial projections and planning of the mining operations - immense investments that influence regions and local communities for years to come. The legacy method of manual mapping is subjective, as well as time- and resource-consuming but no alternative has been able to replace it so far.
Our solution is the first complete AI-driven drill core logging solution. It will use data gathered by a non-destructive sensor to provide the user with not only raw data, but also with automatically generated geological mapping. Digitalizing and automating this part of workflow will increase objectivity and consistency of sample analysis, as well as decrease the amount of manual work required by a geologist.
This will translate into significant time savings for our customers: they will have access to a complete drill core log 90% faster, and will be able to start their operations 50% faster. The accurate and detailed data will enable targeted mining which means better access to the minerals in demand, better knowledge of deposit composition, and better waste utilization. Human oversight will be needed for quality control only which will change the workflows and make them more worker-friendly.
This will be the next step in the Minalyze-led transformation of the mining industry.
SensAI is a new product developed by Minalyze. It will utilize the unique positioning of our company’s portfolio of existing products - the datasets from Minalyzer CS, the patented advanced drill core scanner, and the online access to drill core visualization offered by the Minalogger, our web based software. It is however a completely new solution, based on AI algorithms, trained to identify and log rock types with the highest level of precision and confidence.
Minalyze is a leader in developing innovative technologies for mining. We have proved that by delivering Minalyzer - the first sensor capable of providing highly detailed data on chemistry, structures, density and high-resolution images of samples, without destroying them in the process. We have already shortened the time needed to have the raw data on samples from 3-7 months to ca. 5 hours.
The next step is to introduce AI and machine learning to automate the next step within the process - geological mapping of the drill cores. SensAI’s innovativeness is based on: 1) providing objective results and prognoses with high level of accuracy; 2) shortening time to exploitation and lowering financial as well as environmental costs; and 3) providing access to relevant data from anywhere in the world, without the need for lengthy dispatch of geologists to remote sites.
Drill core logging is used as important input for financial projections and planning of the mining operations - immense investments that influence regions and local communities for years to come. The legacy method of manual mapping is subjective, as well as time- and resource-consuming but no alternative has been able to replace it so far.
Our solution is the first complete AI-driven drill core logging solution. It will use data gathered by a non-destructive sensor to provide the user with not only raw data, but also with automatically generated geological mapping. Digitalizing and automating this part of workflow will increase objectivity and consistency of sample analysis, as well as decrease the amount of manual work required by a geologist.
This will translate into significant time savings for our customers: they will have access to a complete drill core log 90% faster, and will be able to start their operations 50% faster. The accurate and detailed data will enable targeted mining which means better access to the minerals in demand, better knowledge of deposit composition, and better waste utilization. Human oversight will be needed for quality control only which will change the workflows and make them more worker-friendly.
This will be the next step in the Minalyze-led transformation of the mining industry.
SensAI is a new product developed by Minalyze. It will utilize the unique positioning of our company’s portfolio of existing products - the datasets from Minalyzer CS, the patented advanced drill core scanner, and the online access to drill core visualization offered by the Minalogger, our web based software. It is however a completely new solution, based on AI algorithms, trained to identify and log rock types with the highest level of precision and confidence.
Minalyze is a leader in developing innovative technologies for mining. We have proved that by delivering Minalyzer - the first sensor capable of providing highly detailed data on chemistry, structures, density and high-resolution images of samples, without destroying them in the process. We have already shortened the time needed to have the raw data on samples from 3-7 months to ca. 5 hours.
The next step is to introduce AI and machine learning to automate the next step within the process - geological mapping of the drill cores. SensAI’s innovativeness is based on: 1) providing objective results and prognoses with high level of accuracy; 2) shortening time to exploitation and lowering financial as well as environmental costs; and 3) providing access to relevant data from anywhere in the world, without the need for lengthy dispatch of geologists to remote sites.
The primary objectives of the SensAI project were to revolutionise the mining industry by introducing an AI-driven drill core mapping solution that enhances efficiency, accuracy, and sustainability in geological mapping practices. This technology aimed to address critical challenges in the mining sector, including the need for faster operations and the reduction of environmental impacts. The project has demonstrated significant advancements in automated geological mapping and set the stage for further innovations under the new leadership of Veracio Ltd.
The SensAI project by Minalyze is set to have a transformative impact on the mining industry. The key market impacts we deliver that position the project beyond state-of-art are as follows:
- Reduction in time and cost: SensAI dramatically reduces the time required for geological mapping of drill cores from potentially years to just hours or days. This efficiency not only speeds up the exploration phase but also significantly reduces the costs associated with prolonged geological assessments. The market can expect faster project turnovers and reduced financial outlay, making mining projects more economically viable and appealing to investors.
- Enhanced decision-making: With more accurate and reliable data available almost in real time, mining companies can make better-informed decisions about where to mine, how to mine, and the potential profitability of mining operations. This capability introduces a new level of strategic planning in mining, where decisions are data-driven and less reliant on intuition or incomplete information.
- Sustainable mining practices: By enabling more targeted mining operations, SensAI contributes to more sustainable mining practices. Improved accuracy in mapping and analysis helps in minimising unnecessary excavation, thereby reducing the environmental impact of mining activities. This aligns with global efforts towards more sustainable resource management and could improve public perception and regulatory acceptance of mining projects.
- Reduction in time and cost: SensAI dramatically reduces the time required for geological mapping of drill cores from potentially years to just hours or days. This efficiency not only speeds up the exploration phase but also significantly reduces the costs associated with prolonged geological assessments. The market can expect faster project turnovers and reduced financial outlay, making mining projects more economically viable and appealing to investors.
- Enhanced decision-making: With more accurate and reliable data available almost in real time, mining companies can make better-informed decisions about where to mine, how to mine, and the potential profitability of mining operations. This capability introduces a new level of strategic planning in mining, where decisions are data-driven and less reliant on intuition or incomplete information.
- Sustainable mining practices: By enabling more targeted mining operations, SensAI contributes to more sustainable mining practices. Improved accuracy in mapping and analysis helps in minimising unnecessary excavation, thereby reducing the environmental impact of mining activities. This aligns with global efforts towards more sustainable resource management and could improve public perception and regulatory acceptance of mining projects.