Prospect Mining Studio 

Prospect Mining Studio is a partnership between Vimson Group and Newlab to support startups as they build, pilot, and scale frontier technologies that will advance the natural resource and mining industries with a focus on sustainable and socially responsible solutions. Our ecosystem’s collective success over the past two years is a testament to Prospect’s commitment to support and develop ventures that are actualizing sustainable futures in mining - the backbone of the energy transition. In our March 2022 update, we highlight milestones reached by our cohort and how we have been breaking ground in the mining industry.
Studio Updates
Prospect Mining Studio is collaborating with ITOCHU, a Japanese conglomerate that engages in domestic and international trading and manufacturing of various products. The collaboration will be focused on piloting transformative technologies in the aim of enhancing efficiency and sustainability across ITOCHU’s global and strategic mining investments. Prospect Mining Studio and ITOCHU will address challenges in mineral extraction optimization, waste reduction, and green steel production by piloting technologies that enable digitalization, decarbonization, electrification and energy storage.

ITOCHU Overview
Market cap: $54.92B
Trading products: Textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas
Mining Partnership & Investment Highlights: CSN Group (decarbonization and digital initiatives partnership) and BHP (US$0.8 billion investment)

Muon Vision installed its muon radiography sensor in a heap leaching site for their first field test. This is a significant step in Muon Vision's development of their hardware. Muon Vision provides a passive, non-invasive X-ray imaging technology based on cosmic ray radiation detection, that can be used in the mining industry to visualize the percolation and saturation of process fluids across leaching heaps and also to monitor the slope stability of tailings dams, heaps, mining assets.

In monitoring tailings pond stability, Muon Vision’s sensors measure the phreatic level inside a dam, as well as the water content inside a storage pond, allowing the asset owner to proactively take remedial actions and to maximize water recovery activities in a tailing pond.

The team anticipates generating its first density images from the sensor data in the coming weeks. If you are interested in learning more and exploring opportunities to work with Muon Vision as a potential partner or investor, please reach out to us.

Cohort Announcements

Cemvita Factory Launches Gold Hydrogen Program and Debuts Gold Hydrogen Process Microbial Pilot

At the 2nd American Hydrogen Forum in Texas last month, Cemvita Factory announced the launch of the Gold Hydrogen Program for Subsurface Biomanufacturing of Hydrogen with co-founding member, Chart Industries, Inc. ‘Gold Hydrogen’ is a natural hydrogen that is generated by biological and geological processes that occur both shallow and deep within the Earth’s crust. It has the potential to be a zero carbon replacement for natural gas and at almost double the efficiency. For more on the Gold Hydrogen Program and information on how to join, please visit
Quidnet Energy and CPS Energy Announce a 15-year Commercial Agreement for Energy Storage Project in Texas

This month, Quidnet Energy and CPS Energy signed an agreement for a 1 MW, 10-hour energy storage facility using Quidnet's proprietary geomechanical pumped-storage technology. The technology combines conventional drilling technology used in the oil and gas industry with off-the-shelf hydropower equipment. This is Quidnet's sixth pilot project, with two others in Texas, one in Ohio, and one in Alberta. Read more here.
Objectivity Demonstrates Technical and Financial Value Drivers through Project Successes in Chile and Ecuador

Objectivity’s location optimization software, DRX, was tested on a pilot basis at Codelco’s Radomiro Tomic mine in Chile. Codelco used DRX to optimize the design of their drilling campaigns and, as a result, they were able to reduce drilling requirements by almost 20%.

Objectivity’s DRX technology is a drillhole optimization algorithm that allows geologists and engineers to accurately produce, quantify and quickly evaluate the benefits obtained from in-fill and delineation drilling layouts.

Exyn's Award-Winning Underground Mapping Systems are a Valuable Tool at Ascot Resources' Premier Gold Project in BC and Northern Star's Pogo Mine in Alaska

Exyn Technologies is continuing to push the envelope with sophisticated autonomous drones that use onboard sensors and AI to navigate underground mines, detect the environment in 3D, and keep people out of harm's way. At Ascot Resources Premier gold-silver project in British Columbia's Golden Triangle, Exyn drones were used to autonomously and safely navigate areas beyond the reach of GPS; detect and avoid obstacles; and revive a mine that had been deemed inaccessible to miners since the 40s.  

At Northern Star’s Pogo gold mine in Alaska, Exyn's aerial and mining equipment-mounted systems were used to create some of the most detailed maps ever for all of the mine’s underground passages. Read more here.
SafeAI Partners with MACA to Retrofit 100 Mining Trucks

SafeAI, a pioneer in next-generation autonomous mining and construction equipment, has signed an MoU with MACA, one of Australia's leading diversified contracting groups, to create one of the largest autonomous heavy equipment fleets in Australia. In collaboration with Position Partners, the pair will be able to leverage SafeAI's interoperable and vehicle-agnostic platform to retrofit and optimize 100 haul trucks of a mixed variety. Read more here.  

BroadBit Batteries Announces Market-Leading Batteries

BroadBit Batteries' Li-ion batteries -- comprised of the company's newly developed Prolion electrolytes -- has set market-leading cycle life, which implies lowest levelized battery cost available today, in three product categories: 1. Highest Performing LCO batteries, 2. Cost-effective LFP batters, and 3. Cobalt/Nickel-free 4.2 V LMFP batteries. Read more here

Industry News

BHP signed two deals this year focused on increasing cobalt and nickel supply: one is an exploration deal with billionaire-backed AI exploration firm KoBold Metals and the other will provide investment of up to US$100 million in Tanzania’s Kabanga project. BHP was also a lead in a $18 million A round for Photlogic, a global technology company that combines LiDAR, hyperspectral imaging technology, and advanced machine learning algorithms to to generate real-time ore characterization.
Rio Tinto made an equity investment of US$2 million in Regeneration, a startup that will extract minerals and metals from tailings, waste rock and water at abandoned, orphan mine sites.


Cemvita Factory, a synthetic biology platform for carbon utilization, green fuels production (biohydrogen), and bioming, closed a Series A, led by 8090 Partners and Energy Capital Ventures (ECV), with participation from Oxy Low Carbon Ventures (OLCV), Mitsubishi Heavy Industries, Sumitomo Corporation of Americas, Seldor Capital, Climate Capital, and others.

ElectraMet, an industrial wastewater recycler with 99% selectivity in removing and recovering metals from water, received an undisclosed investment from leading copper converter and manufacturer, Wieland. "Securing new sources of copper that doesn’t rely on mining in complicated geopolitical regions will be critical for the future. We are thrilled to be able to work with a world-renowned company such as Wieland to solve this challenge." - Cameron Lippert, ElectraMet CEO. Read more here.


Congratulations to SafeAI and Pitcrew AI for being named in Australia's Core Innovation Hot 30 Awards
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