Mining technology provider Plotlogic is eyeing new critical minerals partnerships as Australian Prime Minister Anthony Albanese flags a $2 billion cash boost to the critical minerals industry.
Speaking to Mining.com.au on the back of this funding boost, first announced on 25 October, Plotlogic Founder and Chief Executive Officer (CEO) Andrew Job says it’s now the right time for the company to establish partnerships in the sector.
“We like companies that are at very late-stage exploration,” Job says.
“The companies that have identified an economic resource, some pretty late stage feasibility, and are about to go through the process of actually starting operations; that’s a really good time for us to engage because we see our technology dove-tailing really nicely with existing mining operations or integrating our technology into the mining operation as it starts to go from development into actual production.”
“we see our technology dove-tailing really nicely with existing mining operations…”
Plotlogic is seeking to solidify partnerships like these to apply its technologies and help Australia’s next wave of critical minerals projects come online.
“Certainly, we see a huge amount of pull in the battery metal, critical metal space. A lot of these mining operations require new technology to be integrated into their operations from day one so that they actually can produce the critical metals that the world needs.
We have some pretty late-stage negotiations that are underway with some relatively well-known companies that sort of fit within that space.
We still have very much an Australian focus. So a lot of our work is still in Australia.”
However, Job notes the company is looking beyond Australia’s domestic and international borders into other jurisdictions amid a flurry of deals and an influx of companies expanding into the lithium foray.
“We are actively expanding internationally. Indonesia, where we’re already operating, we see great expansion opportunity in that space. We feel that our tech is a great natural fit for the work that they’re doing in Indonesia already.
South America is a great expansion case for us, [we are] already operating in Brazil and see some great expansion cases there, and also North America, whether that’s Canada or the USA.”
In any case, Job maintains that most of the company’s team is still based in Australia, which is an easier market for the company to work in with ‘a lot of growth space’ still available.
Adding on, Job tells this news service that heading into 2024, Plotlogic will maintain its focus on its ‘high-growth’ expansion and delivering new products to the market to aid critical minerals development.
“So 2024 is shaping up to be another massive year for us in terms of genuine growth from a commercial point of view, but also some new product and capability that we’re bringing online.
We are still very much in high-growth expansion mode, both in terms of commercial expansion as we bring on new key contracts in all those areas. That’s a really big part for us as we’re building that genuine global presence and being really impactful with our technology.
At the same time, we still have a huge amount of opportunity to continue to innovate and bring new products to the market.”
“We are still very much in high-growth expansion mode”
Plotlogic is a global technology company that allows mine operators to precisely understand the location and material properties of every rock in their mines.
The company’s technology has been utilised by top mining companies, including Australian mining giants BHP (ASX:BHP) and South32 (ASX:S32), to make better decisions, improve ore recovery, reduce dilution, and enhance environmental and social governance performance.
Write to Adam Drought at Mining.com.au