Recent developments in the mining sector reveal promising discoveries in Australia. Earth AI, a tech startup, has announced the identification of significant deposits of critical minerals, including copper, cobalt, gold, silver, molybdenum, and tin, in regions previously deemed unpromising. This news follows last summer’s announcement by KoBold regarding a substantial copper find in Zambia, suggesting a trend towards leveraging advanced technologies like artificial intelligence in the search for essential resources. While the scale of Earth AI’s deposits is still under evaluation relative to KoBold’s, this development underscores the growing importance of AI-driven analysis of field data in securing future supplies of critical minerals.
Earth AI Uncovers Significant Mineral Deposits Using AI
According to Roman Teslyuk, founder and CEO of Earth AI, the true innovation in mining is shifting from geographical exploration to technological advancement. In an exclusive statement to TechCrunch, Teslyuk highlighted the transformative potential of technology in revitalizing mineral exploration.
Discovery Locations in Australia
Earth AI’s analysis has pinpointed deposits of:
- Copper, Cobalt, and Gold: Located in the Northern Territory.
- Silver, Molybdenum, and Tin: Situated in New South Wales, approximately 500 kilometers (310 miles) northwest of Sydney.
Leveraging Decades of Mining Data
Earth AI’s origins are rooted in Teslyuk’s doctoral research at the University of Sydney, where he gained insights into the Australian mining industry. In Australia, mineral rights are government-owned and leased for six-year periods. Teslyuk noted that since the 1970s, exploration firms are mandated to submit their collected data to a national archive.
Teslyuk observed a significant untapped resource: “For unknown reasons, this extensive data remains largely unused. My hypothesis was that by developing an algorithm capable of processing this wealth of information and learning from past successes and failures of countless geologists, we could significantly improve the accuracy of mineral deposit predictions.”
From Software Predictions to Field Validation
Initially, Earth AI operated as a software company, aiming to predict promising deposit locations and then engage clients to pursue on-site exploration. However, potential clients were reluctant to invest heavily based solely on predictions from an unproven technology.
Teslyuk elaborated on the industry’s resistance to change: “The mining industry is notably traditional. Innovations deviating from established practices are often met with skepticism.”
Developing Proprietary Drilling Technology
To validate its software’s capabilities, Earth AI decided to develop its own drilling equipment. This strategic shift aimed to demonstrate the viability of its identified sites. Earth AI participated in Y Combinator’s spring 2019 program, subsequently dedicating several years to refining both its hardware and software solutions. In January, the company secured $20 million in a Series B funding round.
AI-Driven Mineral Exploration: A Divergent Approach
While both Earth AI and KoBold utilize AI for mineral discovery, Teslyuk explained their methodological divergence. Earth AI’s algorithms are specifically designed for rapid, broad-area scanning to detect overlooked deposits with enhanced efficiency.
Accelerating Mineral Discovery in the 21st Century
“Traditional metal exploration methods of the 20th century are inherently time-intensive, often requiring decades for a significant find,” Teslyuk stated. “The contemporary global pace necessitates a much faster approach, which our technology aims to provide.”