While the oil and gas industry trails new innovations frequently, the mining industry has been one of the most cautious sectors to adopt technology in its operations. They are not slow, just very careful. Theirs is a high risk business.
However, with the emergence of #Mineralfindertechnology (MFT) / #oilandgasfindertechnology (OFT), the trend is changing in mining exploration. MFT has the potential to transform mineral exploration techniques, making them more efficient, cost-effective, and environmentally friendly.
Revolutionising Mining Exploration
MFT is a new way of exploring for minerals that uses passive electromagnetic technology and advanced machine learning algorithms (AI) to analyse large amounts of data. It uses sophisticated algorithms to process data from a range of sources, including satellite spectrography, two types of field instrumentation that build a precise top view and side view of the reserve, geology, and topography.
This technology can identify minerals with greater speed than traditional electromagnetic and drilling methods and can predict the location and nature of minerals with a high degree of accuracy.
The Advantages of MFT
One of the main advantages of MFT is that it can save time and money for mining companies. MFT can provide an accurate prediction of where to explore, which means less money spent on exploratory drilling.
The Importance of Accurate Exploration
Mining exploration is the foundation of the mining industry. Without accurate exploration, mining companies would not know where to look for minerals, and this translates to declining reserves and shareholder value. MFT technology can provide mining companies with the necessary information to make informed decisions about where to explore so they can sustain and build new reserves at the same time as production is deleting existing ones.
The Benefits of MFT for the Environment
MFT can reduce the environmental impact of mining by reducing the scope and amount exploratory drilling. Traditional exploration methods involve drilling numerous holes in the ground to find minerals. This can have a significant impact on the environment where geology is complex. MFT technology minimises the need for invasive exploration methods, which is better for the environment, and lower cost.
The Role of Machine Learning
Machine learning is at the core of MFT AI technology. Machine learning algorithms can analyse the vast amounts of data and provide accurate predictions about mineral deposits (mapping, quantifying and valuing them). The more data that is fed into the algorithm, the more accurate the predictions become. And the advantage is the AI can analyse data more quickly, and without human biases.
The Potential for MFT to Disrupt the Exploration Industry
MFT has the potential to transform mineral exploration by improving success rates, making it faster, more efficient, lower cost, and more environmentally friendly.
The Future of MFT
While proven in many projects the full potential of MFT is yet to be realised. However, it is likely that it will become an essential tool for the mining industry in the future. As more data is fed into the AI machine learning algorithms, the accuracy of the predictions will improve, making MFT an even more valuable tool for the mining industry.
Conclusion
In conclusion, MFT is an exciting technology for minerals and petrochemicals that has the potential to transform the mining exploration industry. With the ability to provide accurate predictions about mineral deposits in 17 week timeframes, and reduce the need for invasive and expensive drilling, MFT is a valuable tool for the mining industry. As the technology develops, it is likely that we will see more mining companies adopting MFT, making it the next disruptor for mining exploration.