An AI-powered mining startup EathAI has managed to discover essential minerals in Australia where no one else bothered to look for decades. The startup told TechCrunch that they had identified materials including copper, cobalt, gold, silver, molybdenum, and tin.
These deposits were found in the Northern Territory of Australia as well as another site in New South Wales, 310 miles (500 kilometers) northwest of Sydney. EarthAI’s findings suggest that the future of critical mineral sourcing could hinge on a blend of field data analysis and AI tools.
Earth AI employs algorithms, designed to rapidly survey vast regions, pinpointing deposits that traditional methods might miss. To validate its software’s predictions, the company engineered specialized drilling equipment, confirming the accuracy of its identified sites.
Initially, Earth AI operated as a software firm, generating potential deposit predictions and then seeking clients to pursue site exploration. However, potential investors were reluctant, their hesitation stemming from the risk of committing millions to a technology lacking established proof.
Roman Teslyuk, founder and CEO of Earth AI said:
Mining is a very conservative industry. Everything outside of the approved dogma is considered heresy. The way we used to explore for metals in the past, the 20th century, it just takes very, very long. It takes decades to find something. With the modern pace of the world, you just can’t wait for that long.
Earth AI was accepted into Y Combinator’s Spring 2019 group, followed by years dedicated to enhancing its hardware and software. Recently, in January, the company secured $20 million in a Series B funding round.