Dig Deep: The Mining Podcast - Exploring the Future of Exploration with AI
Introduction
Welcome to Dig Deep: The Mining Podcast, where we go deep into mining news, hot topics, and live interviews with mining professionals and leading figures in the mining industry. In this episode, we have a special focus on AI-driven mineral systems models and their role in improving exploration success. Our guests Joanna Ponica and Irand Ronan work for Equest Metals, a company using AI to pinpoint critical processes needed to form large mineral deposits, aiming to significantly increase exploration success.
Meet the Guests
In this episode, we're joined by Joanna Ponica, with 12 years of experience in exploration across the mining and oil and gas sectors, and Irand Ronan, an economist turned data scientist who brings a unique perspective to the world of mineral exploration.
Background and Journey to Mining
Joanna shares her background, revealing her transition from oil and gas to mining due to the cyclicity of the industry. She emphasizes the invaluable tools and skills she gained from her time in the oil and gas sector, which have proven crucial in her current role at Equest Metals. Irand, on the other hand, discusses his experience in the banking industry as a data scientist, highlighting the pivot he made to apply his expertise to solve complex geological problems.
The Birth of Equest Metals
The pair goes on to discuss the formation of Equest Metals, a company initially focused on investing in exploration projects before realizing the need to fill the gap in early-stage exploration. With a focus on leveraging AI to improve success rates, Equest Metals is dedicated to developing better prospects and turning them into discoveries.
Challenges in Exploration and the Role of AI
The discussion then delves into the challenges in mineral exploration, particularly the underfunding of early-stage projects, the lack of focus on quality exploration targets, and the need for better data cleaning processes. Irand highlights the power of language models in unlocking geological information from documents, while Joanna emphasizes the importance of automating time-consuming tasks to free up geologists for higher-level analysis.
BHP Explore Program
Equest Metals' participation in the BHP Explore program is a significant topic of conversation, with both Joanna and Irand sharing their perspectives on the program's impact. They discuss how the program has helped them refine their strategy, scale their capabilities, and test drive their exploration methodology on a large scale in collaboration with BHP.
The Future of Exploration and AI in Mining
Looking to the future, Joanna and Irand express their hopes for the mining industry to see a shift in how capital is allocated, a reorganization of the sector, and the emergence of new exploration companies with the capabilities to produce better prospects. They also stress the need for a range of tools to come together to improve exploration, with AI playing a crucial role in this development.
Conclusion and Call to Action
To wrap up the episode, the guests share insights on how interested individuals and companies can reach out to Equest Metals, emphasizing the company's active presence on Twitter and LinkedIn and inviting potential collaborators and investors to get in touch.
Conclusion
In this episode of Dig Deep: The Mining Podcast, Joanna Ponica and Irand Ronan shed light on the challenges and opportunities in mineral exploration, particularly the role of AI in increasing exploration success. Their insights offer valuable perspectives on the future of exploration and the potential for AI to revolutionize the mining industry. As the industry continues to evolve, it is evident that AI will play a significant role in shaping the future of mineral exploration.