Archives: Mining finance

Rio Tinto is teaming up with a leading global venture studio and start-up investor to back the development and commercialisation of breakthrough technologies in the mining industry, supporting the company’s efforts to find better ways to provide the materials the world needs. The company will partner with Founders Factory and invest A$14.4 million ($9.5 million)[…]

Rithmik Solutions, a leader in AI-powered analytics, has successfully closed a $2 million funding round that, it says, will help accelerate its growth, further enhance its product offerings, and expand its reach to help mines around the world maximise the efficiency and lifespan of their mobile equipment. This investment was spearheaded by a syndicate of[…]

EACON says it has received another $44.5 million in Series C++ financing, led by Zijin Mining and Minxi Xinghang, enabling it to scale up its technology, product R&D and mining area operation management as part of its autonomous haulage developments. Including series C and series C+ financing, EACON has now completed equity financing of $97.3[…]

The Board of Debswana, the 50:50 diamond mining joint venture between De Beers Group and the Government of the Republic of Botswana, has announced approval of the investment for a key development phase of the Jwaneng underground project, paving the way for one of the world’s most valuable diamond mine to transition from open pit[…]

In one of his first actions in office, Western Australia’s new Mines and Petroleum Minister, David Michael, has launched a funding program to help mining equipment, technology and services (METS) companies to develop and commercialise new technologies for use in the WA mining sector. Applications now open for up to A$250,000 ($169,838) in co-funded METS[…]

Epiroc continued to register high demand from the mining sector in the September quarter, as several large mining equipment orders were won over the three-month period, leading to a 17% year-on-year rise in orders received. This total of SEK14.36 billion (US$1.29 billion) was supported by strong organic growth and acquisitions, Epiroc said, as well as[…]

IMDEX has revealed record September-quarter revenue of A$126.1 million ($79.4 million) as the group continues to benefit from the recent acquisition of Devico. Revenue was up 19% on the same time last year, with Devico contributing about A$18.2 million, or 17%, of the increase. Organically, excluding Devico, revenue was A$107.9 million, a 2% increase on[…]

Exyn Technologies, a pioneer in multi-platform robotic autonomy for complex, GPS-denied environments, has announced the successful second close of its recent funding round. This milestone, Exyn says, further strengthens the company’s strategic partnerships with two prominent investors, C.R. Kennedy & Company and Aero X Ventures. Exyn says it is revolutionising industries such as mining, logistics[…]

Thor Energy Plc has announced a collaboration with Fleet Space Technologies to undertake Ambient Noise Tomography (ANT) surveys to advance Thor’s understanding of the Alford East copper-REE project, in South Australia. The exploration-focused agreement will see Fleet deploy its EXOSPHERE BY FLEET® technology, which scans the ground using the advanced ANT seismic tomography technique, where[…]

As well as posting record underlying earnings for its financial year ending June 30, 2023, IMDEX made significant strides with deploying its newest technology, the company says. This is the first set of financial results to include revenue from global directional drilling and sensor technology company, Devico, which IMEX acquired in February. Revenue for the[…]