Novamera Incorporated and OZ Minerals have entered a Memorandum of Understanding (MoU) under united goals, including the transformation of the mining project lifecycle and unlocking value in standard mineral assets.
The MoU will provide a basis of common understanding to support the creation of a collaborative innovation relationship between the parties. The MoU will also support the companies desires to enable the world’s raw material needs to be met responsibly, equitably, and sustainably.
Partnership plans to engage in certain activities including, but not limited to, the following:
- Participation by OZ Minerals in the Canadian Mining Innovation Council (CMIC) Consortium of Mining Companies to trial Novamera’s near borehole imaging tool at various project sites later in 2022
- Assess the potential of deploying Novamera’s technology within OZ Minerals’ project portfolio
- Collaboratively evaluate potential project opportunities
- Co-develop collateral to articulate the operational experience and value proposition associated with Novamera’s technology
The President and CEO of Novamera, Dustin Angelo, said the company was excited to take the next step in its relationship with OZ minerals.
“Since last September, we have been working with the Think and Act Differently team on the Scalable & Adaptable Mining Challenge. Over that period of time, we realised we share common goals and ideas on the direction of the mining industry and where to unlock value,” Mr Angelo said.
“The MOU will allow us to focus our efforts collectively and begin to leverage our individual core competencies to create a tremendous amount of value for each of our companies.”
The General Manager Transformation at OZ Minerals, Katie Hulmes, said the company was looking forward to working with Novamera as part of the CMIC Consortium and various internal projects.
“The Novamera technology can enable surgical mining. This approach has the potential to operate with less waste, water, energy and a smaller footprint,” Ms Hulmes said.
OZ Minerals’ Think and Act Differently team is building an ecosystem of the curious who are exploring and accelerating themes that prioritise social and environmental responsibility for the development of the modern mine. Central to its success is the active participation of a network of people from across multiple industries, organisations, community groups, governments, research organisations and others who want to play a role in solving complex challenges.
Novamera’s unconventional mining technology creates unconventional value. For Novamera, to stay competitive, it believes the mining sector must produce more ore with less waste.
Novamera has developed guidance technologies that enable climate smart, surgical mining and unlock value in certain mineral deposits found worldwide that are uneconomic today because of their small scale and/or geometry. The company’s proprietary navigation tools, software and methodology work in conjunction with conventional diamond core drills and modified large diameter drilling equipment to extract ore economically and leave excess waste in the ground.
