Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the mining sector. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 5 mining technology startups.
Heat Map: 5 Top Mining Technology Startups
Using our StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, we looked at innovation in the field of mining. For this research, we identified 955 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & emerging companies developing mining technologies. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 955 companies we analyzed for this specific topic.
skymineUAV – Drone-Based Mine Stockpile Assessment
With effective management, mine stockpiles help transition towards a leaner supply chain. Traditionally, stockpile data is collected by manual inspection, which is a time-consuming and repetitive task. Automating the data collection, in line with the increase in demand for integrating unmanned aerial vehicles (UAV) into mining operations, startups develop drones to collect stockpile data such as tonnage mined or buffer stockpiles in big mining operations.
The Cayman Islands-based startup skymineUAV offers an autonomous drone platform for assessing short-term stockpiles. The platform integrates truck-load data and the location of the stockpile to automate datasets like mineralogy, composition, and grade of the stockpile. Additionally, a weatherproof box allows the drones to automatically launch based on weather conditions.
Solve Geosolutions – Machine Learning (ML) For Mining Exploration
Combining geospatial data with multiple layers of information at specific sites enables the discovery of rich mineral deposits. Moreover, the identification of such mines, deep within the earth, is becoming difficult as it requires highly accurate geophysical data. Eventually, with the advancement in computing power and digital geospatial data, ML algorithms help mining exploration companies to identify mineral deposits with a higher degree of accuracy.
Australian startup Solve Geosolutions provides cloud-hosted software for mining exploration. With the help of advanced analytics and ML algorithms, the software suite, Solve Labs, helps in exploration efforts. The software allows for easier interpretation of complex multivariate datasets to provide the necessary insights, as well as for the overall optimization of mining exploration.
Emesent – Autonomous LIDAR Mapping
Mine shafts are notoriously dangerous for cave-ins and other hurdles such as inaccessibility. Increases in the mapping of mine shafts directly improve worker safety. Mapping technology equips drones to gather and provide real-time localization data. Startups and emerging companies fit drones with smart scanning technology such as LIDAR for underground mine mapping.
Australian startup Emesent produces an autonomous mapping device for drones. The startup offers Hovermap, a LIDAR mapping device, for both underground and aboveground mining operations. Simultaneous Localization and Mapping (SLAM) technology, in combination with Artificial intelligence (AI) algorithms and LIDAR data, help the drones to operate in GPS-denied environments. The Hovermap weighs 1.8 kg and is also compatible with a variety of drone modifications or fittings.
Springtech – Mining Work Management Software-As-A-Service (SaaS)
Mining operations are usually capital intensive and require a detailed level of planning and production, in line with the project objectives, to achieve projected returns on investment (ROI). Further, advanced analytics software helps with creating dashboards, cost budgeting, and real-time data visibility of rig performance and drilling. Implementing mining software results in faster decision making in operations and helps in reducing operating costs.
Australian startup Springtech develops work management software platforms for planning and production in mining operations. With the help of CorePlan, budgets and costs become easier to manage due to digitization and real-time data integration. In addition, CorePlan tracks the performance of drilling rigs and enables the deployment of timely corrective measures.
Tagvance – Real-Time Asset & Personnel Tracking
The mining industry is both labor-intensive and capital intensive. Effective utilization of resources is critical for optimizing costs and ROI. Integrating the Internet of Things (IoT) with movable assets and personnel improves tracking and locating resources like trucks, tools, generators, mixers, and trailers, in real-time. This drives startups to develop IoT-enabled solutions to identify and reduce idle time, alert operators on machine stoppages, and increase asset accountability.
Singaporean startup Tagvance provides real-time asset location and personnel tracking solutions for the mining industry. With the help of Bluetooth Low Energy (BLE) technology, these tags send and receive radio signals to the various receiver antennas placed strategically in the mines. As a result, the tag allows for 2D or 3D visualization of the real-time location of the tag, depending on the signal bounce.
What About The Other 950 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence so you can achieve your goals faster. The 5 mining technology startups showcased above are promising examples out of 955 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.