Top News

Baie Verte’s Anaconda Mining gunning for gold at Toronto tech pitch event

In addition to reducing the mine’s environmental footprint and and creating $2 million in revenue, Anaconda’s aggregates venture is also creating 70 new jobs in the Baie Verte region.
Baie Verte mining district-based Anaconda Minining is competing in the #DisruptMining 2019 pitch event in Toronto this weekend. - David Howells photo

Gold mining company aiming to follow in footsteps of 2018 winner Acoustic Zoom of Paradise

TORONTO, Ont. —

Anaconda Mining will look to tap into a rich vein this weekend as one of three finalists in the #DisruptMining 2019 event.

The annual competition, co-hosted by Vancouver-based Goldcorp and KPMG, is a Toronto-based innovation accelerator meant to encourage new technologies and ideas to help capitalize on opportunities and solve challenges in the mining industry. 

The winning team earns the right to negotiate with Goldcorp for up a $1-million investment for a proof of concept at one of Goldcorp’s mines or direct investment in the winning technologies.

“These finalists demonstrate break-through thinking and help build digital momentum in mining,” Goldcorp CEO and executive vice president of operations Todd White, stated in a release.

“The industry needs to help accelerate the development of these kinds of technologies,”

Anaconda, based in Newfoundland’s Baie Verte mining district, will be showing off a two-stage drilling method that’s better able to unlock value from narrow vein deposits. The technology, developed in collaboration with Memorial University, has the potential to unlock value in existing deposits that were previously thought to be uneconomic to mine using traditional underground or surface mining methods. 

The developers also expect this technology could extend the life of current operations by allowing safe excavation to occur beyond the limits of current designs.

If Anaconda emerges as the winner, it'll be two years in a row that a Newfoundland-based mining outfit has claimed the top spot. In 2018, Paradise-based Acoustic Zoom  ultra high-frequency 3-D drill hole seismic imaging technology earned it top marks and the company has since inked a US$1-million equity investment agreement with Goldcorp. As part of the agreement, more than $150,000 is being used to fund a pilot program at Goldcorp’s Red Lake Gold Mines in northern Ontario, where Acoustic Zoom is helping narrow down new areas of the mine to explore, while also refining the technology further.


RELATED

Recent Stories