News - Full StoryHow Augmented Reality is Disrupting the Mining Industry in 2020 Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Jan. 14, 2020 /PRNewswire/ -- Augmented reality is quickly becoming one of the must-have technologies for major industries, including healthcare, government, military, automobiles, and education. It's even transforming the mining industry with regards to improving mine productivity, reducing maintenance costs, protecting miners, providing site tours of mines, and training in real-world environments, notes Mining Technology. Better, "Rather than simply viewing a 2D representation of logs - or even a 3D view - on a monitor or paper, think about being able to physically 'lift' the core from ground and see the geology, geophysics and imagery overlaid on a 3D representation of the hole in its physical location, with the relative geology of all other boreholes in the vicinity," notes Grey Properjohn of Australian company Vix Technology. "The potential is amazing and set to revolutionize, if not redefine, current thinking." These advancements are creating sizable, exciting opportunity for top companies like NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR), BHP Group (NYSE:BHP), Newmont Corporation (NYSE:NEM), Rio Tinto Group (NYSE:RIO) and Barrick Gold Corporation (NYSE:GOLD).
NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality (AR) for eCommerce and AR learning applications just announced that Romios Gold Resources (TSX.V:RG)(OTC:RMIOF) a junior mining company, has contracted for the companies 3D/AR omni-channel services. Today's announcement marks the beginning of a significant new use case and opportunity for NexTech's AR Solutions in the mining sector. The top 40 global mining companies, which represent a vast majority of the whole industry, reported some $683 billion U.S. dollars of revenue in 2018 according to Statista. NexTech's industry-leading AR technology will help drive Romios marketing activities in 2020 and creates an enormous new business opportunity for Nextech.
"Romios Gold Resources is delighted to work with NexTechAR as we introduce Augmented Reality to the Resource industry together. Tom Drivas, President and Director continues, "We believe there is great value in allowing potential investors and industry experts to view core samples from our exploration projects in high-fidelity 3D. Going forward we will look to find other innovative ways to leverage this technology into our various marketing strategies, and pioneer together, new industry standards." Evan Gappelberg CEO of Nextech comments ,``We are excited that Romios has adopted NexTech powerful and industry-leading augmented reality offering to drive its product marketing and client education activities. Our 3D augmented reality solution and our AR learning tools will help Romios to bridge the gap by showing in 3D/AR what actual core samples look like for investors and potential investors creating a critical use case to Romios and the mining industry. " He continues, "We are always looking for new industries to leverage our AR solutions. The mining sector is certainly a new industry for us and we are the first companies to create 3D/AR core samples, which we believe could become a new industry standard for the entire mining industry." Nextech will be attending PDAC, the world's premier mineral and exploration mining convention March 1- 4 at the metro Toronto Convention Centre to showcase these core samples and mine for more business.
Other related developments from around the markets include:
BHP Group (NYSE:BHP) confirm that Andrew Mackenzie retired as an Executive Director of the Company on 31 December 2019. The following information is provided in accordance with section 430 (2B) of the UK Companies Act 2006. BHP's Remuneration Report for the financial year ending 30 June 2020 will include the remuneration earned by Mr. Mackenzie during the financial year ending 30 June 2020 in respect of his appointment as Chief Executive Officer and Executive Director of BHP.
Newmont Corporation (NYSE:NEM) is transferring experienced mining leader Jim Cooper, General Manager of Boddington in Australia, to lead the Peñasquito mine in Mexico to optimize this world-class asset. Jim will assume leadership of Peñasquito in the first quarter of 2020 and report to Dan Janney, Newmont's Regional Senior Vice President for North America. "Under Jim's leadership, Boddington has delivered step-change improvements in safety, mill throughput and recovery, mine plan sequencing and execution," said Tom Palmer, President and Chief Executive Officer. "Boddington's scale and processing characteristics are similar to Peñasquito's, making Jim uniquely qualified to replicate Boddington's consistently strong performance at Peñasquito in Mexico."
Rio Tinto Group (NYSE:RIO) awarded Perth-based company Mondium a contract valued at approximately A$400 million for the design and construction of the Western Turner Syncline Phase 2 (WTS2) mine in the Pilbara region of Western Australia. Mondium will undertake all engineering and design, procurement and site construction works associated with the WTS2 development, including the process plant, overland conveyor and non-process infrastructure. The work is expected to create 450 jobs starting in the first quarter of 2020 and is expected to be completed in 2021. Mondium and Rio Tinto will work closely to ensure the contract provides local and Indigenous employment as well as business opportunities in the region. Rio Tinto Iron Ore chief executive officer Chris Salisbury said "We're committed to supporting WA businesses, buying locally and supporting our communities through the creation of jobs. We're pleased to award this contract to Mondium who share those values. "We're continuing to invest in Western Australia and have a number of development projects in the pipeline that will continue to provide opportunities for local companies."
Barrick Gold Corporation (NYSE:GOLD) will release its fourth quarter and year end results to end December 2019 on Wednesday, February 12, 2020. President and CEO Mark Bristow will host a live presentation on the results at 11:00 EST at Barrick's corporate office in Toronto on that day. The presentation will be linked to a webcast and conference call. The company will release preliminary production and sales information for Q4 2019 on January 16, 2020.
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