Welcome to this week's edition of the Weekly Nugget, your source for the latest news and insights on artificial intelligence and emerging technologies in the mining sector. In this issue, we'll explore how mines are leveraging AI and automation to boost efficiency, safety, and sustainability. From autonomous haul trucks to AI-powered investment platforms, new technologies are transforming operations. However, workforce impacts and data security risks must also be addressed. As the industry adopts more advanced tools, both opportunities and challenges lie ahead. Stay tuned as we delve into the AI revolution taking hold underground and unearth its implications for miners in the years ahead.
Jess Scanlan
Head of New Media
🔥 What's New
Beyond The Hype: How Technology Can Drive Mining Operations' Performance
Seequent's new insights paper explores how emerging technologies can optimize mining operations, but stresses that collaboration and high-quality data are vital to realizing the benefits. The paper features input from industry leaders like Prospector's CEO, Emily King, who moderated discussions around implementing innovations like EVs, automation, and AI. A major theme is the challenges of integrating advanced systems into entrenched workflows. Contributors emphasized the need for extensive user support and transparency when adopting new tech to build trust and avoid reverting to old methods.
July Monthly Mining Roundup Replay
Our team sits at a unique intersection of technology, AI, and the mining industry. This month, we took a “behind the scenes” look into how artificial intelligence is improving the industry, helping inform decisions, and creating an easier understanding of complex topics! Be sure to watch the replay to learn more!
JPMorgan Sees Gold Price Charging To Records In 2024
JPMorgan sees gold pushing past $2,000 an ounce by year-end and hitting new highs in 2024, fueled by falling real yields as the Fed cuts rates. Whether a soft or hard US recession hits, gold will benefit from the inevitable easing cycle starting mid-2023. Its haven status makes it attractive amid economic uncertainty, complementing late-cycle portfolio diversification. Central bank buying is also providing a key source of demand. With positioning not overcrowded yet, JPMorgan believes gold offers an opportune allocation as markets brace for recession. Upside risks include more pronounced Fed easing if a deeper downturn materializes. Gold's agnosticism to recession scenarios distinguishes it from stocks and cyclical commodities.
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Geology Student Wins Contest, Then Inks Mining Deal That Might Pay Millions
Young geologist Ryan Burke struck prospecting gold, inking a lucrative option deal on a Yukon discovery he pitched at an industry contest. The site yielded promising copper, gold, and silver samples, earning the recent grad a $150,000 payment and 1 million shares from partner Transition Metals. If a mine eventually operates there, Burke could receive over $1 million more plus a 1% royalty. It was a rewarding payoff for his adventurous fieldwork, which included hiking 130 km and dodging bears. While steep odds face mining projects, Burke's youthful drive exemplifies the spirit needed to supply fresh discoveries. Supporting new talent is crucial as many current geologists near retirement. Burke's deal shows contests tapping young imaginations could unlock mining's next generation.
UN Watchdog Delays Deep-Sea Mining To 2024
The International Seabed Authority (ISA) has delayed approving deep seabed mining, rejecting applications at a meeting last week. But a legal loophole leaves the door open for approval next year before regulations are finalized. The U.N.-backed ISA was expected to rule out mining in international waters amid concerns over environmental impacts. However, ISA could still greenlight applications filed two years prior under an existing clause. Though no company has formally applied yet, some want to mine the seabed for metals used in clean energy. Proponents argue it's less damaging than land mining. Critics cite insufficient research and high remediation costs. An ISA vote expected this week could impose a moratorium.
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