Prospect Mining Studio supports startups of all stages, forward-thinking innovators, and prominent researchers as they build, pilot, and scale frontier technologies that will advance the natural resource and mining industries with a focus on sustainable and socially responsible solutions. A catalyst for change in the industry, the studio is a partnership between leading Indian mining conglomerate, the Vimson Group, and innovation hub, Newlab. Each 12-month program cycle explores new possibilities in mining 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 at mining sites, all while building efficiencies, measuring impact and disrupting the status quo.

PROGRAM PHASES
Prospect Mining Studio – Exploring new possibilities in mining
OUTCOMES
  • Bring together frontier technologies and applied entrepreneurship to address the mining industry’s most pressing challenges around efficiencies, future of workforce, data optimization and reducing carbon footprint
  • Establish partnerships between mining industry leaders and innovators from startup and academic research communities
  • Validate and advance solutions to market through piloting at mining sites
  • Create unique investment deal flow to commercialize technologies and scale businesses that gain traction in the Studio
PROGRAM CYCLE 2
Prospect Mining Summit

December 2020

Open Call for Participants

Jan – March 2021

Startups Selected

June 2021

Engage Phase

Jun – Sept 2021

Pilots

Fall 2021

FOCUS AREAS

Prospect believes a range of emerging technologies will create impactful, scalable opportunities across the $1T mining industry. Prospect Mining Studio will touch all aspects of the mining value chain, leveraging technologies from a range of sectors and many from outside of the industry. For the second cycle of the program, the Studio will aim to deliver opportunities to the mining industry within the application areas described below.

 

We are proud to announce the addition of the Canada Mining Innovation Council (CMIC) as a partner who will be supporting a subset of startups in the program. Startups operating in CMIC’s application area described below will have the opportunity to work with Prospect and be fast-tracked for pilot opportunities with the member organizations of the CMIC consortium, who are global industry leaders in mining.

  • Tailings, Waste, and Water Valorization and ReductionCapturing more value from minerals through synthetic biology, physical, chemical as well as data-driven innovations that improve methods of reduction and valorization of tailings, waste, and water. Conversion of mining and processing byproducts into raw materials for new applications or carbon sinks, creating closed-loop production cycles in mining.
  • Efficiency OptimizationMaximizing operational, logistics and supply chain efficiency through the deployment of distributed sensors and digitalization. Improving the prescriptive life cycle management of assets, and workforce engagement.
  • Ore UnderstandingMaximizing knowledge for selective winning of ore through the mining value chain from discovery to processing and even mine design. Applications may include advances in real time, remote, in-field and in-line, multispectral and penetrative sensing and data interpretation relating to elemental, mineralogical, metallurgical, physical, trace or even biological properties.
    In collaboration with
    cmic
  • Energy Efficiency and DecarbonizationOptimizing energy consumption in mining, transport and processing, from sensing and digitalization to novel rock breaking and processing methods. Reducing the carbon footprint of mining processes and machines and new distributed non-fossil energy sources and alternative battery storage.
  • Worker Safety and Performance Setting a new bar for safety to keep workers out of hazardous environments through intuitive visualization and advanced imaging (AR/VR), teleoperations, decision support, and heightened workforce motivation and engagement. Physical protection on a person or system level.
  • Computer VisionApplying computer vision to mobile mining equipment to create safer and more productive mining by removing people from the working face.
  • Artificial Intelligence and Machine LearningA.I. and machine learning harness data to optimize logistics in the field and within every facet of the supply and value chain.
  • RoboticsRobotics and unmanned aerial vehicles create new levels of safety while ensuring optimal output.
  • Augmented and Virtual RealityAR/VR and advanced imaging technologies create robust, actionable insights into site operations that keep workers out of hazardous environments.
  • Synthetic Biology, Chemistry, and Material ScienceAdvances in synthetic biology, chemical engineering, and data-driven machinery enable enhanced waste recovery, improved water management, and more energy-efficient systems.
  • Telecommunications and NetworkingAdvances in telecommunications and networking fuel holistic monitoring and real-time optimization of systems, equipment, and site routines.
  • Industrial IoTAdvances in IoT harness data to optimize logistics in the field and within every facet of the supply and value chain.
  • Geomechanics and GeometallurgyData analysis and innovative developments in niche fields like geomechanics and geometallurgy help uncover new methods for discovering, extracting, and processing minerals.
Why apply?
  • You are applying transformative technology to solve big challenges in the mining industry
  • You are building a business that can create positive impact
  • You want to be part of a global community of innovators
What we offer:
  • Equity Free Participation
    • Prospect Mining does not take any equity from startups to engage in the Studio.
  • Gain Traction in Mining
    • Prospect is focused on product development and getting startups to deploy pilots in real-world test environments.
  • Possibility for Investment
    • Prospect makes select investments in companies based on the Studio’s focus areas; participation in the Studio does not guarantee investment.
  • Ecosystem Development
    • Startups get visibility and new connections with mining companies from around the world
2020 Cohort

The 2020 Prospect cohort was a diverse set of companies spanning the globe. From robotics and sensing for operations to new chemistries and organisms for tailings, the inaugural cohort represents what is possible for the future of mining. The Studio has convened these startups with global mining companies, developed pilot projects, and made investments into select teams. Like Prospect, these startups are dedicated to advancing the mining industry.

Stony Brook, USA

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Zurich, Switzerland

Philadelphia, USA

Bhubaneswar, India

Brooklyn, USA

Santa Barbara, USA

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Vancouver, Canada

Toronto, Canada

Sudbury, Canada

Arnhem, Netherlands

Woburn, USA

Brooklyn, USA

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Rio de Janeiro, Brazil

Melbourne, USA

APPLY

Applications to Prospect Mining Studio are now closed. Please check back for program updates and future opportunities to get involved.

PARTNERS

Prospect Mining seeks leading corporate and venture partners who are interested in helping drive innovation in the mining sector.  Benefits of partnership include:

  • Engagement with a curated portfolio of talented technology entrepreneurs
  • Participation in ideation workshops
  • Access to cutting edge research
  • Engagement with proof-of-concepts and prototypes for partner-driven challenges
  • Opportunity to participate in strategic investments
Team
Vivek Salgaocar
Director, Vimson
Sundar Singh, PhD
CTO Mining, Vimson
Satish Rao, PhD
CPO, Newlab
Roby Stancel
Partner, Innovation and Technology, VCI
Advisors
Neil Cohen
Founder and Co-CEO, American Rock Salt Company LLC
Stephen Gorevan
Chairman, HoneyBee Robotics
Lesley Warren
Director, Lassonde Institute of Mining Professor of Mineral Engineering, University of Toronto
Scott Banta, PhD
Professor of Chemical Engineering, Columbia University
Tom Gallo
Mining and Venture Advisor
Ian Gandel
Non-Executive Chairman, Alkane Resources Ltd
Carl Weatherell
Executive Director & CEO, Canada Mining Innovation Council (CMIC)
Janice Zinck
Director, Green Mining Innovation, Natural Resources Canada
Michelle Ash
CEO, GEOVIA
News
Winners of the $20M NRG COSIA Carbon XPRIZE Announced

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 Integrates Data into Sandvik OptiMine®

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 Evaluates Sustainable Mining by Drilling Technology at Hochschild’s Peru Mine

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 Invests in CyanoGuard to Advance Sustainability and Efficiency in Gold Mining

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.

Prospect Mining Studio Virtual Summit 2020 - Recap

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.

Webinar: Analytics and AI in Mining

From predictive analytics to chemical innovation, data-driven solutions present new opportunities for mining companies to maximize operational efficiency and avoid unnecessary downtime.

Mining Magazine: Technology of mining in the future

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.

Webinar: Robotics and Automation in Mining

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.

Webinar: Tackling Waste in the Mining Industry

Novel advances in chemistry and biology are being adapted to address one of the mining industry’s biggest challenges: waste.

Webinar: Transformative Technology Applied to Mining

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.

Webinar: Digitization and Visualization Applied to Mining

Learn how new visualization platforms and advanced algorithms will help mining companies exceed process objectives while consuming minimal amounts of energy.

Gold Mining Reinvented: Maximizing gold recovery while minimizing cyanide consumption

Founded in 2016, CyanoGuard is Swiss-based chemtech startup dedicated to shaping the future of cyanide detection, monitoring and optimization for gold mining applications.

Four Questions for Founders | Carbon Upcycling Technologies

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.

First cohort of 15 startups get set for Vimson Group & New Lab’s Prospect Mining Studio

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: Announcing our
2020 cohort

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!