Tag Archives: Annelie Lundström

Veracio captures more drill core scanning market share with Minalyze acquisition

Automation, IoT, Mineral exploration, Mining mergers and acquisitions, Mining services, , , , , , ,

Veracio has entered into a binding agreement to acquire pioneers in scanning and data innovators, Minalyze, for a total consideration equal to $29.3 million.

With the combination of Veracio’s AI and advanced analytics solutions and Minalyze’s geological data visualisation technology, this strategic acquisition will transform the way the industry captures, analyses and interprets geological information, ushering in an era of informed decision-making in an increasingly complex and data-driven world, according to Veracio.

Boart Longyear Group spunoff its Geological Data Services division into a separate entity called Veracio earlier this year, saying the company is “ideally suited to combine science and digital technologies in a single, integrated platform and help mining companies get more value from their orebody data, faster, while mitigating the environmental impact of their decisions”.

Minalyze, meanwhile, has a history of developing scanning instruments for core samples and software for the visualisation of geological data. The company’s patented scanner and cloud-based software for digitising large volumes of drilling samples generate high-resolution and consistent data through fast, non-destructive collection of multiple datasets. This has seen it achieve commercial success with clients in Europe, Australia, Africa and North America.

“This acquisition represents an exciting new chapter for both Veracio and Minalyze,” Veracio Chief Executive Officer, JT Clark, said. “We see this as a ‘better together’ opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry.”

Annelie Lundström and Mikael Arthursson, the co-Founders of Minalyze, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner, according to Veracio.

Lundström said: “Joining forces with Veracio is a remarkable step forward. We believe this acquisition will enable us to enhance what we’ve accomplished to date, deliver distinct value to our clients and redefine industry benchmarks collaboratively.”

Mike Ravella, Veracio’s Chief Innovation Officer, said: “We are committed to maintaining the quality and innovation the industry has come to expect from both Veracio and Minalyze. We want to assure our clients on both sides of this transaction that the products and quality of services they trust and value will continue to be available and well-supported, and we encourage and appreciate their continued support.”

This deal will, according to Veracio, capitalise on the synergy between Minalyze and Veracio’s scientific and technological progress and prowess. Veracio remains steadfast in its mission to evolve data acquisition and AI in geosciences, and to unveil vital resources globally with enhanced speed.

Completion of the transaction is scheduled to occur on September 20, 2023.

Minalyze CS drill core scanner heads to Intertek’s Global Centre of Excellence

Mineral exploration, Mining services, Mining software, , , , , ,

Intertek, a Total Quality Assurance provider to industries worldwide, has announced an agreement with Minalyze to install a Minalyzer CS patented drill core scanner at Intertek’s new Minerals Global Centre of Excellence in Perth, Western Australia.

The Minerals Global Centre of Excellence opened in July 2021, which consolidated Intertek’s Minerals operations into a single 19,000 cu.m building and houses over 500 employees. With the introduction of the Minalyzer CS, the centre’s state-of-the-art laboratory will support the mining and exploration industry allowing its customer’s geological data acquisition and access to related software for data visualisation, Intertek says.

John Fowler, Intertek’s Senior Vice President of Minerals and Exploration and Production, said: “Our new Minerals Global Centre of Excellence is designed to provide instant and efficient access to world-class technology, expertise and service. Incorporating the Minalyzer CS into this exciting new facility delivers on our commitment to investing in advanced technology to continuously improve quality, sustainability, safety, efficiency and deliver value for our clients.”

Minalyze CEO, Annelie Lundström, added: “We are excited for this new agreement with Intertek which demonstrates Intertek’s commitment to bring value to the industry through state-of-the-art technology and through the new Minerals Global Centre of Excellence in Perth. Our strategic collaboration provides our clients with the tools that will enable faster and more efficient discoveries needed for a sustainable green transition.”

Minalyzer CS is a scanner offering a contactless and non-destructive service able to generate geochemistry, high-resolution images, rock quality designation (RQD), structures, specific gravity and bulk density for drill cores and other drill samples. The patented scanner is designed for handling large volumes of drill samples and is capable of scanning drill cores directly in core trays. A laser (LiDAR) generates a 3D model of the topology of the core and trays, and enables the control and precision of the continuous XRF scanning. RQD and structures are also derived based on the 3D model.

The objective, continuous and consistent nature of the datasets as well as the high but compact data density generated by the scanning technology is paramount in machine learning and deep learning applications and approaches to geology, according to Minalyze.

LKAB starts core logging automation, digitalisation process with Minalyzer CS

Automation, IoT, Mining equipment, Mining services, Mining software, Steel and iron ore, , , , , , , , ,

LKAB has become the first iron ore miner in the world to implement the continuous XRF scanner Minalyzer CS, starting the process of automating and digitalising its drill core logging workflow.

By collecting data in an automated system, LKAB is aiming to improve the consistency and efficiency of its core logging process, Minalyze said.

LKAB and Minalyze initiated the collaboration in March 2020 when the first scanner was installed at the Kiruna iron ore mine for a test. It was then expanded to Malmberget where data from the Minalyzer CS was used to help geological logging of the drill core. The focus for the tests was to assess the datasets: geochemistry, high resolution images, RQD and specific gravity generated by the scanner and to determine how these datasets can assist in the core logging process.

Following these developments, the two companies plus Sentian, in May 2021, said an artificial intelligence application developed by the trio would be trialled to make drill core analysis faster, with the time to evaluate a drill core reduced from weeks to minutes, with increased accuracy.

LKAB Senior Vice President Exploration, Strategy and Business Development, Pierre Heeroma, said: “The tests with the Minalyzer in Kiruna and the more complex Malmberget geology confirmed that this Swedish technology is disrupting the core logging process – now we have fast access to rich data as guidance when classifying the rocks. Our core logging is now consistent and efficient.”

Annelie Lundström, CEO Minalyze AB, said: “The rest of the iron ore industry should closely follow the transformation LKAB is undergoing. With the Minalyzer they have one of the more automated and digitalised core logging workflows in the world. And they are setting a new world standard for sustainable mining with the fossil-free iron ore and steel making.

“We are very proud to be part of LKAB’s transition into the future.”

Minalyze and Colorado School of Mines team up to tackle advanced drill core analysis

IoT, Mineral exploration, Mining equipment, Mining services, Mining software, , , , , , , ,

Researchers at the Colorado School of Mines are teaming up with Minalyze AB to build an advanced geosciences research laboratory for non-destructive compositional analysis of drill core, the Sweden-based company says.

“This new laboratory establishes the Colorado School of Mines as a global leader in this emerging field with important applications in the development of Earth resources such as the critical minerals needed in the manufacturing of clean energy technologies,” Thomas Monecke, Director of the Center for Advanced Subsurface Earth Resource Models (CASERM) at the Colorado School of Mines, says.

“Minalyze’s choice of CASERM as a research partner is a testament to the calibre of our faculty and students we have, and the establishment of the new research facility will help our research team to advance solutions for the mining sector and contribute to our fundamental understanding of the geological processes resulting in the concentration of metals in the Earth’s crust.”

The new laboratory will support research conducted within CASERM, a collaborative research venture between the Colorado School of Mines and Virginia Tech supported by a consortium of mining companies and federal agencies aiming to transform the way geoscience data is used across the mining value chain.

Minalyze’s X-ray Fluorescence-backed CS scanner has been used throughout the mining sector for drill core analysis and, more recently, is being used in artificial intelligence-backed projects.

In addition to ore deposit research, the new core scanning laboratory will offer unparalleled opportunities for undergraduate and graduate student education, according to Minalyze.

Annelie Lundström, Chief Executive Officer of Minalyze AB, added: “We are excited to collaborate with the CASERM research team and look forward to helping build a strong future in Earth resource research at the Colorado School of Mines and Virginia Tech.”

Initial research using the new analytical capabilities will focus on the identification of elemental enrichment and depletion patterns around ore deposits that were caused by the interaction of ore-forming fluids with the host rocks during deposit formation, Minalyze explained. Identification of these vectors to ores requires the use of machine-learning techniques that are currently developed and tested by the CASERM research team.

In addition to data science, the research team is planning on conducting method developments involving the integration of additional sensors in the core scanner.

LKAB to trial AI-backed XRF drill core logging with help of Minalyze and Sentian

IoT, Mineral exploration, Mining services, Steel and iron ore, , , , , , , , , , , , , ,

LKAB, Minalyze AB and Sentian say they have joined forces in a consortium to develop the latest technology for scanning drill core.

In March 2020, LKAB started a test with the Minalyzer CS drill core scanner where the goal was to improve the workflow for core logging – ie how the results of exploration drilling are analysed. The test led to a permanent installation in Kiruna (Sweden) and expansion to Malmberget where data from the Minalyzer CS is used to help geological logging of the drill core.

The consortium of LKAB, Minalyze and Sentian are now set to take the use of data to the next level when boreholes in LKAB’s deposits are to be investigated. The new artificial intelligence application being developed by the trio will make the analysis much faster, with the time to evaluate a drill core reduced from weeks to minutes, with increased accuracy.

This could see Minalyze’s X-ray Fluorescence-backed CS scanner analyse LKAB drill core while leveraging Sentain’s industrial artificial intelligence solutions to make real-time decisions relating to drilling and exploration activities.

The technology development driven by the consortium will be a world first, changing the entire industry, the companies say.

Jan-Anders Perdahl, Specialist at LKAB’s Exploration Department, said: “With the collaboration, the core logging takes a big step through machine learning and artificial intelligence. The geologist can, at an early stage, place greater focus on the parts of the core that show chemical or other changes. Opportunities are opened up to gain increased knowledge about ore formation processes and alterations in a completely different way than before. One can also get indications that you are close to mineralisation and where it may be located, and thereby streamline exploration.”

The technological leap will give LKAB’s staff increased competence, increased quality in and efficiency of the work, as well as reduced need for other analysis methods, according to the companies.

Annelie Lundström, CEO of Minalyze AB, said: “We are at an interesting time when the hardware to extract consistently high-resolution data from drill cores is available and we can now take the next step and generate value from data together with our customers. In this collaboration, we will develop algorithms that can map rock layers in so-called lithological logs with very high confidence. This can only be done by combining expertise from all three parties.

“The results from our collaboration will forever change how drill core logging takes place everywhere and will result in a more efficient, non-subjective and consistent process.”

Martin Rugfelt, Sentian CEO, added: “We see great power in the application of modern artificial intelligence to data from the mining industry and there is major potential in further combining our machine learning technology with Minalyze’s unique capabilities in data collection and analysis.”