Taking A Microscopic Look At The Mining Sector
(Kitco News)- Mining companies struggling to attract investor capitalneed to start thinking outside the box and pay more attention to theirenvironmental footprint, according to one tech mining executive.
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| Kurtis Vanwallegham, CEO of Bio-Mine at #DisruptMining 2017 |
In an interview with Kitco News, Kurtis Vanwallegham, CEOof Bio-Mine, said that mining companies are starting to really focus on theimportance of their social corporate responsibilities and environmental issuesare at the forefront.
“If you can keep the people in the area happy and theenvironmental impact low; where communities are supporting you and yourbusiness model is more accepted in society, that will be reflected in yourshare price,” he said.
Vanwallegham added he has seen this sentiment continue togrow in the mining space as he works with more and more researchers to developgreen technology. 2017 was a big year for Bio-Mine after it competed in the#DisruptMining event at the Prospectors and Developers Association of Canada(PDAC) convention.
Last year it pitched the idea of using bio-intelligent,augmenting consortium of organisms to recover metals and remediate mines, anevolution from all microbes currently being used today. The idea Vanwallegham said is to usezero-toxic technologies and innovation to replace all harmful chemicals currentlyfound on a typical mine site
Since the PDAC event, Bio-Mine has had to move twice asits business saw rapid expansion. Vanwallegham added that they still have a waitinglist of companies that are interested in our partner program.
“This past year has been unbelievable. We just didn’thave the capacity to handle all the project requests but that is going tochange in 2018, as we move into our new state of the art facility,” he said.
Looking at Miningat a Microscopic Level
What makes Bio-Mine a unique tech mining company is theway it is approaching the problem of developing a sustainable mine.Vanwallegham explained that they are working with some of the world’s topmedical researchers to develop new technologies. He added that the medicalfield has some of the best researchers in areas that can be transferred to themining sector.
“We are working with the elite of the elite when it comesto nanotechnology, biotechnology, molecular science and organic chemistry,” hesaid. “We are not coming at mining from an engineering viewpoint but from amolecular viewpoint.”
“We can see the light at the end of the tunnel that thereare non-toxic substitutions and options for mining companies to utilizeinnovation to reduce their environmental footprint,” he added.
As an example, Vanwallegham said that Bio-Mine is workingwith a leading global expert in cyanide, which is a deadly toxin that is usedto extract gold and silver.
“The goal is to eliminate cyanide completely, so we tryand bring in the best in the world as mentors and consultants to our team” hesaid.
Vanwallegham said one of the critical roles he sees forBio-Mine is as a “solutions incubator,” as the company works with its researchersto develop viable commercial non-toxic technologies. He added through theirincubation process they can evaluate what technology will realistically workwithin a typical mining project.
“Unfortunately 90% of the research out there are notviable for a mine for one reason or another, so how does a mining company findthe right technology. Not easily.
While partnering with a variety of mining companies,Vanwallegham said that its business model is based on the medical sector. Heexplained that they have a variety of projects at different stages ofdevelopment. He added that they are continually researching new ideas, with thebest ideas moving forward through the incubation phases towardcommercialization.
“We have modeled our business after medical researchbecause they are the best examples of rapid innovation,” he said. “Similar totheir stages, we have some projects that can be adopted now, we have someprojects that are about a year away and we have some projects that have justbeen added to the workbench.”
Bio-Mine, Vanwallegham said, was able to expand itsbusiness because of the exposure from the 2017 #DisruptMining event, whichallowed him to showcase his innovative ideas to a room full of miningexecutives.
Goldcorp is planning its second annual#DisruptMining event and is accepting applications for companies to presenttheir ideas in front of a panel of mining and tech executives. Tuesday is thefinal day for companies to submit their proposals.
By Neils ChristensenFor Kitco News
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nchristensen@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.