Earth AI has located a new critical mineral deposit, marking the first-ever greenfield deposit discovery done by artificial intelligence, according to the company.
High levels of porphyry molybdenum, exceeding amounts found in the world’s leading molybdenum mines, were found by the company in New South Wales, Australia. Porphyry molybdenum is known as a uniquely conductive soft metal with strong thermal resistance, and it is essential for many clean energy technologies. Earth AI technology is reportedly able to discover such critical metal deposits at half the typical cost, in a fraction of the time needed for conventional methods.
Critical metals, known specifically for their use in electric vehicles and other clean energy technologies, are facing supply shortages and low discovery rates. The increased demand for such minerals, driven by the clean energy transition, has led to an increasing supply gap and high costs.
Despite these obstacles, critical metals have been identified as key to shifting to renewable energy and meeting global climate goals. Many countries have therefore invested in innovative strategies and less conventional alternatives to securing these materials.
Using AI to locate new sources of critical metals has shown better discovery rates and lower costs in comparison to conventional metals exploration. In the case of Earth AI’s newly found deposit, advanced AI prediction tools allowed for a one in eight success rate, compared to a traditional discovery success rate of one in 200. Further, its cost of $2 million was significantly lower than the average rate of conventional methods, which is typically about $100 million per discovery.
Earth AI’s method uses its Mineral Targeting Platform, an AI-based prediction tool, to first identify areas with mineral enrichment. Its team then conducts field sampling and geological research to plan drilling. Once drilling commences, the company’s system allegedly causes close to no environmental damage, working to minimize water waste and prevent soil contamination.
"Our porphyry molybdenum deposit discovery is a huge deal for the mining industry and the quest for a net-zero economy," said Roman Teslyuk, CEO and founder of Earth AI. “This venture showcases a significant stride toward challenging the industry's traditional norms, and we are unveiling a pathway to mineral discovery that is not only faster and more economical but also exceptionally precise.”
