The Disrupt Mining 2018 competition, hosted by Goldcorp and KPMG, concluded last night after four worthy companies pitched their ideas to revolutionize the world of mining.
Acoustic Zoom was selected as the winner of Disrupt Mining 2018 for their technology that provides ultra high-frequency 3D drill hole seismic imaging. With this win, the Paradise, Newfoundland company will be able to negotiate up to a $1 million contract or investment with the Vancouver-based Goldcorp.
“Technologies like the one presented by Acoustic Zoom will get us to our vision of being a technology company—and a mining company—faster,” said Todd White, COO of Goldcorp. “Each of the finalists brought something unique to the challenge making the deliberation process difficult for the judges. It was crystal clear at the #DisruptMining finale last night that disruptors are responding to our call to innovate.”
Mining is a massive industry in Canada, as the industry contributed $57.6 billion to the country’s GDP in 2016. Only real estate (selling, managing and leasing), and manufacturing brought more into Canada’s GDP last year.
The other three finalists included Enviroleach Technologies, who have developed a sustainable and safe alternative to cyanide, which is used widely in the hydrometallurgical extraction of precious metals; LlamaZOO Interactive, which created MineLife VR, a platform that can represent a mine plan from exploration to reclamation in an interactive 1:1 scale using virtual reality; and Open Mineral, who digitize the relic practices of physical commodity trading.
Acoustic Zoom uses their technology to expand mineral exploration and create 3D imaging of mines, mapping complex geological formations deep within the earth’s crust. The tech can reduce 3D survey costs by up to 90 per cent. They were semi-finalists in the Disrupt Mining 2017 competition and perfected their tech to win it all this year.
“Our vision is to give confidence to investors by augmenting the value of drill results using our innovative acoustic technology,” said Jacques Guigné, CEO of Acoustic Zoom. “Our technology maps deep within the earth’s microstructure, helping exploration teams drill smarter, guide planning and achieve investment value quick. We are thrilled that Goldcorp and the judging panel of industry titans sees this value and champions our vision.”
That judging panel of titans included George Salamis, president and CEO of Integra Resources; Rob McEwen, founder and CEO of McEwen Mining; Veronica Knott, recipient of the 2017 Engineers Canada Gold Medal Student Award, and others.
The Disrupt Mining 2018 finale took place in Toronto and took in proceeds of over $230,000, which will all go towards mining, innovation and technology scholarships at the University of British Columbia over the next three years. Goldcorp and KPMG also announced a $100,000 pledge to the HEROS hockey program, which helps vulnerable kids play and buy equipment for hockey.