Predictive mining explorer and driller Earth AI has announced that it has found a rare Ni-PGE-CU (Nickel-Platinum-Copper Group Elements) using AI in New South Wales, Australia.
The discovery was made during an AI assisted exploration and is the second significant discovery made by Earth AI in five months. The exploration was in partnership with Australian-based explorer Legacy Minerals.
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AI can help speed up the discovery process whilst cutting costs, and this could help ease shortages of critical minerals.
The Ni-PGE-CU discovery in New South Wales is rare and it is anticipated that it could be the only Ordovician intrusive complex in the area.
“We cannot change humanity’s need for non-renewable resources, it has always been and will be there,” stated partner at Earth AI’s investor Taver Capital Mikhail Taver.
“However, we can make methods of exploration and extraction much more efficient and environmentally friendly. Investing in modern AI-powered technologies allows us to make a green transition while maintaining a responsible approach to the development of deposits,” he added.
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By GlobalDataEarth AI states that it therefore holds significant potential for the world’s economy.
Critical minerals are depleting but remain more important than ever in the race towards the renewable energy transition, explained Earth AI CEO and founder Roman Teslyuk. Teslyuk stated that AI can help discover new mineral deposits.
“The number of new discoveries has decreased by 73% over the last decade, and the development of old deposits often occurs in an environmentally unfriendly manner,” stated Teslyuk.
Earth AI currently has a discovery success rate of 66%.
“Our AI for mineral discovery is key to the diversification of the global critical metals supply chains by finding maiden deposits in unexplored areas at a fraction of the usual cost,” he adds.
Copper, nickel and graphite are currently facing global shortages, which is driving up prices and slowing down production of renewable technologies.
