Mineral Forecast strikes deal with SQM to aid their metallic mining explorations.

Using artificial intelligence, Mineral Forecast will collaborate with a lithium-specialized mining company to identify Cu (copper) and Au (gold) exploration targets that will allow them to add value to their metallic mining projects and attract new partners. “We appreciate this opportunity to work with a great company that is betting on Mining 4.0 tools with all the excellence in innovation that characterizes them,” stated Arturo Rochefort, one of the founders of Mineral Forecast.

This week, the startup focused on Artificial Intelligence (AI)-based mining exploration closed an important working agreement with SQM. This agreement consists of supporting the company’s business development team to identify targets with exploration potential in a metals-focused exploration project, using AI and all available project information. The final objective is to add value to its metallic mining projects and attract new partners for their development.

“This is excellent news for us! Working together with a global mining company like SQM, which is betting on Mining 4.0 tools with all the excellence in innovation that characterizes them, demonstrates once again that the use of AI in mining exploration is here to stay. Furthermore, this case demonstrates the support that we as Mineral Forecast can provide to companies that develop exploration businesses by attracting partners for their development,” assures Arturo Rochefort, one of the founders of Mineral Forecast.

The startup, with experience in diverse deposits and types of minerals, seeks to be a complement and support to exploration teams in processing large amounts of information generated in mining exploration, and thus quickly and safely identify sectors with high mineralization potential, reducing cost and time in the exploration process. The results of its use show that up to 29% of drilling costs can be saved, discoveries can be accelerated by up to 25%, and the probability of discovery can be significantly increased. This methodology has been used before by companies such as Codelco, Anglo American, CMP, among others, with very good results, especially to accelerate the discovery of new resources and to do so in a more sustainable way.

Javier Muñoz, cofounder of Mineral Forecast, states that “similar to the revolution generated by the inclusion of computer-aided design (CAD) in different industrial processes, including mining exploration, AI is a tool that allows exploration teams to extend their capabilities further, helping to increase the probability of discovery, decrease exploration costs, and accelerate discoveries. This is why established companies with a long track record like SQM are betting on including AI in mining exploration.”

SQM states that the company seeks to maximize the value of its properties through prospecting and the implementation of initial exploration activities, with the objective of discovering deposits of base or precious metals. Thus, through a systematic and scientifically-based exploration strategy, SQM identifies areas of high prospectivity for metallic mineral deposits and can continue advancing towards discovery, or seek discovery through third-party exploration alliances by entering into an option and joint venture agreement.

According to the founders of Mineral Forecast, the main added value of their company is to digitally transform the world of mining exploration and help extract the maximum potential from data for its long-term use. “In ten years’ time, tools like ours will be a ‘must-have’ in mining exploration. That’s why we are betting on the development of a SaaS platform, with the objective of democratizing its use,” states Muñoz.

News published in Minería Chilena (spanish)