The Canada Mining Innovation Council (CMIC) has announced the launch of ReThinkMining Ventures Inc (RMV), a for-profit subsidiary of CMIC.

Established to commercialise the technology in which CMIC is directly vested, ReThinkMining Ventures will help accelerate the development and deployment of new technology that will address critical needs of the mining industry, CMIC said.

CMIC’s goal is to reduce the mining industry’s energy use, water use and environmental footprint by 50%, by 2027. It has been working with major global players in the move toward zero waste mining, striving to develop technologies and innovations that will reduce waste, lower costs and mitigate environmental impacts across all aspects of mining.

The CMIC approach to these and other challenges is to start by developing technology roadmaps that align the industry on common challenges, and also help create a paradigm shift in terms of what is possible. At the tactical level, CMIC creates teams, or consortia, of mining companies and suppliers to co-develop new technology, and also co-develop the implementation of new technology.

Mark Thorpe, CEO of EnviroGold Global and Chair of CMIC’s Board of Directors, said: “This is a major, positive advance for the CMIC. As the Chair of the Board of Directors, I congratulate the entire team on achieving this milestone. We are ready to complete the work to start the commercialisation of the exciting projects that are in the CMIC project pipeline, which has been our long-term goal.”

Nancy Guay, Vice President Technical Services & Innovation, Agnico Eagle, and a board member of ReThinkMining Ventures Inc and CMIC, said: “This announcement marks an exciting new chapter of CMIC and will create true value for all our partners. We will work with the new team and partners to realise the full potential of those projects to drive the future growth of new technologies. Thanks, everyone, for the hard work and commitments.”

Carl Weatherell, CMIC Executive Director and CEO, added: “The creation of ReThinkMining Ventures is part of the natural evolution of CMIC and fills a serious void in the mining innovation ecosystem.”