Revolutionary 3D seismic imaging technology and an environmentally friendly cyanide alternative were among the innovations highlighted at the second annual #DisruptMining accelerator challenge, hosted March 4 by Goldcorp Inc. (TSX:G) at the Rebel Entertainment Complex in Toronto.
Founded in 2017 by Goldcorp and Integra Gold Corp. (TSX-V:ICG), the event is a platform for entrepreneurs to present innovative, industry-disruptive ideas to compete for the chance to win a $1 million capital opportunity.
About 600 people were in attendance at this year’s grand finale. Competition judges included Todd White, COO of Goldcorp; George Salamis, president and CEO of Integra Resources Corp. (TSX-V:ITR); and Wal van Lierop, president and CEO of Chrysalix Venture Capital.
The winner of the competition, Acoustic Zoom Inc., boasts revolutionary seismic exploration and exploitation techniques using sonar applications. The New Brunswick-based company uses 3D seismic imaging and beam-forming and beam-steering techniques to enable high-resolution imaging of geological structures.
“Technologies like the one presented by Acoustic Zoom will get us to our vision of being a technology company – and a mining company – faster,” Goldcorp’s White said in a press release. “Each of the finalists brought something unique to the challenge, making the deliberation process difficult for the judges.”
Two of the other finalists, Llamazoo Interactive Inc. and Open Mineral AG, are software-based companies offering technological solutions for mining exploration and financing.
The fourth finalist, EnviroLeach Technologies Inc., has developed the world’s only safe, cost-effective and sustainable alternative to cyanide, used in the mining industry to separate gold and silver particles from ore. The company is based in Burnaby and employs roughly 10 at its head office, which is home to administrative offices, a lab and a pilot plant.
“There is a tremendous amount of interest in something that can be so environmentally friendly yet as effective as cyanide,” said Duane Nelson, CEO and president of EnviroLeach. “Cyanide is used significantly throughout the sector.”
Another area where an alternative to cyanide is desperately needed is the electronic waste, or e-waste, sector.
E-waste is now a global concern. Rapid changes in technology, volatility in media type and outlets, subjective pricing and planned obsolescence have caused a massive spike in the need for electronics recycling.
Jabil (NYSE:JBL), the third-largest electronics manufacturer in the world, has taken a significant interest in EnviroLeach and plans on expanding its relationship with the company to start changing the way electronics are recycled, Nelson said. The U.S.-based manufacturer is “very interested in the technology for the e-waste space, which is roughly 320 tonnes of gold every year that goes into electronics, with only 8% recycled.”
“There is a significant opportunity for what they call urban mining, and [Jabil] wants an environmentally friendly solution for the extraction of gold and metals,” he said.
As for the future of mining and the mining sector, industry professionals noted one of the main themes of the #DisruptMining event was getting people out of the mines.
“Any time you remove people from the underground and put them safely out of harm’s way, it is a valuable product,” said Luis Canepari, vice-president of technology at Goldcorp.
