Prospect Mining Studio is a first-of-its-kind platform for Applied Innovation, Investment, and Venture Creation across the metals and minerals mining value chain. We are focused on solving critical challenges for the production, supply and use of bulk and critical ores and metals, while advancing global energy and carbon reduction goals.
We explore new possibilities across the metals and mining value chain by bringing together startups, entrepreneurs, mining industry experts, venture partners, and leading academics from across the globe to define challenges, prototype rapidly, and implement pilots. Prospect Mining Studio exists to disrupt the status quo and create mining-led impact.
A joint venture between Newlab and Vimson Group
Newlab is a center of invention that mobilizes people, capital, and collective intelligence to address pressing challenges in energy, mobility, and materials.
Vimson owns and operates one of India’s oldest iron ore mining companies, responsibly transforming natural resources into prosperity for the entire community.
We convene key stakeholders across mining and adjacent industries to build, pilot, and scale transformational technologies at every stage of the value chain.
Co-design and investigate a problem with mining partners, then source and apply novel technologies through pilots and demo-scale deployments
Unlocking long-term value and impact by investing in and advising deal flow that is de-risked through the studio
Build companies and commercialize technology from the ground up against identified whitespaces and industry gaps
There are opportunities to change, evolve and disrupt the entire metals and minerals value chain. Below are some illustrative examples of industry focus areas and technology needs that we are looking to address. These ideas are not exhaustive.
If you are developing a technology that increases the supply of ores and metals, promotes sustainability and energy efficiency in mining, or reimagines the use of metals and minerals, we want to collaborate with you.
Enabling the production and supply of metals from primary and secondary resources
Resource discovery and ore characterization
Metals recovery and recycling from tailings, e-waste, water and other secondary resources
Metal extraction techniques (e.g. DLE, biological, in-situ recovery, etc.)
Reducing lifecycle emissions, energy and water consumption, and remediating the environmental impacts of mining
Decarbonizing iron ore and steel production
Alternative energy propulsion systems & electrification for heavy duty equipment
Soil biome restoration
Co-creating novel and diverse market applications for metals beyond traditional use-cases
Energy storage chemistries, including cathode / anode materials or manufacturing techniques
Nano-materials for magnets
Novel electrolysis and fuel cell catalysts
We are actively looking for technologists and startups to apply to join Prospect Mining Studio.
Applying to be a part of our Studio allows the team to systematically engage with technology companies that are building solutions that can be applied to the metals and minerals mining industry. With an initial understanding of your technology solutions through the submission, Prospect Mining Studio will be able to design tailored support plans for selected companies focused on technology development towards commercialisation, strategic connectivity within the industry, and investment.
Prospect Mining Studio will review submissions monthly and invite companies soon thereafter to engage with the Studio team. Our team will be offering introductory calls to answer any questions regarding the Studio, our mission, and focus areas.
Sign up to schedule time to speak with Prospect Mining Studio’s Director of Applied Innovation, Sahil Jain and learn more.
If you are a technology company developing novel innovation and science that can address the opportunities above, we want to hear from you. We are open to working with technologies at any stage and encourage companies from adjacent industries to apply.
Prospect Mining Studio team will work closely to help companies enter and scale in the mining industry. This will include developing technical requirements and understanding the conditions of the mining environment for companies in adjacent markets. We co-develop relevant use-cases, based on mining needs, to help companies realize the potential to expand their technology in the mining sector.
We work closely with startups to design pilot projects and accelerate customer acquisition. Prospect Mining Studio can connect teams to potential partners based on commercialization progress, business model and go-to-market strategy.
Applicants will benefit from Prospect Mining Studio’s deep industry knowledge. Our team has active mining experience and can provide unique intelligence around operational scenarios and potential for technology scale-up and integration within mines.
Teams that are invited to join the Prospect Mining Studio will receive targeted support to accelerate their technological development and market fit. Prospect Mining Studio does not take any equity from startups to engage in the Studio. Teams will receive:
Access to mining experts
Engage with Vimson, Newlab, and our bench of industry experts to consult on technology commercialisation, relevant and new use-cases, go-to-market strategies, and customer acquisition.
- Access on-demand experts with a diverse range of technical and functional expertise
- Tap into Prospect’s extended network to solicit additional perspectives on technology scalability and pilot project opportunities
Consideration for investment
Receive consideration for equity investments, non-dilutive pilot grants, and support to go after public funding opportunities based on fundraising needs and strategic priorities
- Connect with Prospect’s investment team and/or receive referrals to other investors in our network
- Influence Prospect’s approach to public funding opportunities and join Newlab-led coalitions to secure non-dilutive capital
Invitations to hosted events
Gain access to and participate in regular Studio and external events, and periodic webinars to influence and shape the innovation agenda for mining
- Join the Prospect Mining Studio annual symposium and actively engage with relevant capital providers, commercial partners, and/or government entities
- Participate in other periodic events that convene smaller groups of Prospect Mining Studio stakeholders for targeted engagement
Features in published content
Garner exposure through centralized thought leadership that the Studio platform will amplify through its network to drive innovation activity across key areas
- Co-author thought leadership pieces, in partnership with Prospect Mining Studio, that represent a unique perspective on a topic of mutual focus within mining (e.g. through WEF, International Mining, etc.)
- Feature in a whitepaper or other Prospect Mining Studio-led content that will be leveraged as a call to action for additional partners and/or projects
Our partners leverage the Prospect Mining Studio to tackle complex industry challenges and future-proof their operations
Improving metal extraction and increasing throughput while reducing energy and water consumption
- Selective rock fragmentation to minimize waste production
- Energy efficient electromechanical comminution techniques
- Synthetic biology and novel green chemistries for preconditioning ore bodies
Digitizing mining operations to maximize production efficiency and promote safety
- Computer vision and machine learning technologies to enable predictive maintenance of mobile equipment
- Autonomous drone systems for Simultaneous Localization and Mapping (SLAM) in underground and hazardous environments
Characterizing primary and secondary ore resources to economically improve extraction potential
- Magnetic surveying solution to reduce exploration and drilling costs
- Optimizing resource drilling programs using machine learning
- Zinc tailings and bauxite residue re-mining
Prospect Mining Studio seeks leading academic, corporate and venture partners who are interested in helping drive innovation in the mining sector.
As part of the Studio, these startups will work to define critical gaps in the mining industry, develop prototypes, and pilot their solutions at mining sites in order to solve the industry’s most significant sustainability challenges and reduce waste streams across the mining value chain. The Studio’s focus areas include: reducing operational costs, improving the energy efficiency of ore processing, and establishing alternative, low-carbon energy storage infrastructure.
Applications to Prospect Mining Studio are now closed. Please check back for program updates and future opportunities to get involved.
The 12 startups selected to join the Studio will apply sustainable and socially responsible technology solutions to the mining industry.
Kal Tire and Prospect cohort member Pitcrew AI will bring mines autonomous detection of hot tires, tire separations, and other tire and mechanical damage any time, anywhere, and without the vehicle needing to stop.
The global energy transition hinges on a mining industry that is actively deploying disruptive innovation to abate its carbon footprint.
Novamera has closed its $4 million Series A financing round, providing the necessary funds to carry out the first full field trial of its (SMD solution for narrow-vein mining.
XPRIZE has announced that CarbonCure Technologies, CarbonBuilt, Carbon Corp, and Prospect Mining Studio cohort startup Carbon Upcycling have won the $20M NRG COSIA Carbon XPRIZE, a prize that set out to convert CO2 emissions into valuable products.
Exyn Technologies has expanded its partnership with Sandvik Mining and Rock Solutions to integrate Exyn’s data into Sandvik’s analytics and process optimization suite, OptiMine®.
Novamera has partnered with Hochschild Mining, a leading precious metals company in order to advance insight into the development of Novamera’s surgical mining technology, Sustainable Mining by Drilling (“SMD”).
Prospect Mining Studio announces a half-million-dollar investment in its cohort member company CyanoGuard, the Switzerland-based chemtech startup shaping the future of cyanide detection for the gold mining industry.
On December 3rd, Prospect Mining Studio virtually brought together mining companies with forward-thinking startups worldwide to ideate on mining challenges and share insight into concepts and operating environments where new pilots could take place.
From predictive analytics to chemical innovation, data-driven solutions present new opportunities for mining companies to maximize operational efficiency and avoid unnecessary downtime.
Prospect Mining Studio is offering mining start-ups time in the spotlight and supports them in becoming cornerstones in the mining industry of the future. Mining Magazine’s Donna Schmidt investigates.
Can robotics and automated processes help us reimagine mining? Hear from two Prospect Mining Studio startups pioneering the integration of advanced robotic systems that will create a global impact on the industry.
Novel advances in chemistry and biology are being adapted to address one of the mining industry’s biggest challenges: waste.
As corporations continue to navigate their approach to innovation, active startup partnerships and pilots are key opportunities for the entrepreneur and mining operator to come together.
Learn how new visualization platforms and advanced algorithms will help mining companies exceed process objectives while consuming minimal amounts of energy.
Founded in 2016, CyanoGuard is Swiss-based chemtech startup dedicated to shaping the future of cyanide detection, monitoring and optimization for gold mining applications.
We caught up with Apoorv Sinha, CEO of Carbon Upcycling Technologies, who focus is on the conversion of CO2 gas emissions into solid products from point sources such as power plants.
The startup teams in the 2020 cohort will now engage Vimson, Newlab and the supporting ecosystem of experts to progress towards clear milestones.
Prospect Mining Studio, a partnership between the Vimson Group and Newlab, is thrilled to announce the first cohort of startups for the 2020 program cycle!