Hexagon AB, a global leader in digital reality solutions, combining sensor, software and autonomous technologies, has announced the acquisition of Minnovare, a leading provider of drilling technology that improves the speed, cost and accuracy of underground drilling.
As surface ore deposits are exploited, mines are increasingly pushing deeper underground for minerals and metals. Minnovare specialises in eliminating the manual, labour intensive, and unproductive processes in underground mining that lead to blast-hole deviation, dilution and downtime. Its advanced hardware and data-capture software combine to deliver drill-data faster and more accurately than ever before – improving the efficiency, productivity and overall profitability of underground drilling operations. Its solution combines sensors, software and data analytics to address deficiencies in existing drilling processes across the resource definition, development and production phases.
Minnovare’s best known solution is Production Optimiser, a system which combines advanced hardware and software that substantially improves production drilling efficiency and productivity in underground mines. By reducing hole deviation at the collar, the resulting reduction in deviation at the toe/break-through leads to optimal blasts, which in turn represents a significant reduction in average dilution (up to 30%), a reduction in secondary drill and blasts, oversize/under-size rocks, overall down-time and processing and logistical costs. The system also improves average ore recovery.
“The integration of Minnovare’s innovative mining solutions with our strong, core technical competence is a strategic fit. It will prove invaluable for customers striving to improve the speed, cost and accuracy of underground drilling,” said Hexagon President and CEO, Ola Rollen. “Today’s acquisition strengthens our formidable drill and blast portfolio and accelerates our underground development roadmap. We also see opportunities for international expansion of Minnovare’s portfolio throughout Hexagon’s global footprint.”
Founded in Perth, Western Australia in 2012, Minnovare has established a proven track record, with more than 150 contracted systems in over 90 mining operations worldwide, sold as a recurring revenue package. Minnovare will operate as part of Hexagon’s Mining division. The acquisition has no significant impact on Hexagon’s earnings and closed in early 2022.
