Training artificial intelligence to disrupt mineral processing
VANCOUVER, March 4, 2019 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) ("Goldcorp") is pleased to announce ANDRITZ as the winner of #DisruptMining 2019, the innovation accelerator, offering entrepreneurs a platform to bring disruptive and exponential technologies to the sector. ANDRITZ impressed the judges and earned the opportunity to negotiate a contract or investment of up to $1 million* with Goldcorp.
"We thank Goldcorp and KPMG for their tremendous leadership driving innovation and digitalization forward in mining. We are excited to be part of Goldcorp's success to bring autonomous plant operation to mineral processing and we look forward to getting to work," said Sohail Nazari, Business Development Manager and Arthur Gooch, Director of Innovation.
"Congratulations to our #DisruptMining winner ANDRITZ and to all our finalists and semi-finalists. Innovation doesn't stop or start with one idea, one technology, or one company. For the mining industry to reach the demands and potential of the 21st century, every company must step up and innovate. We must all be safer, more efficient, and responsible and we'll get results faster through collaboration and the kind of break-through thinking the #DisruptMining platform is meant to uncover for our industry," said David Garofalo, President and CEO, Goldcorp.
"Congratulations to ANDRITZ for winning #DisruptMining. Thank you to all the finalists and semi-finalists for driving innovation forward and challenging all of us to realize the immense opportunity exponential technology represents for the natural resources sector. At KPMG we are proud to support dynamic, innovative companies and we're increasing our investment in helping our clients with digital transformation." said Armughan Ahmad, President & Managing Partner, Digital Solutions.
ANDRITZ, a leading supplier of machines and automation solutions worldwide, developed a unique and continuous way of training artificial intelligence to operate a mineral processing facility using ANDRITZ's digital twin. The AI is trained to respond to a variety of situations, making it capable of adapting to changing inputs and improving recovery time. The trained AI's ability to quickly process information and recommend data-driven solutions will allow for the improvement of the operation, such as start-up and shutdown, and assist operators to achieve plant-wide optimization.
Deciding the fate of the three finalists was a panel of industry judges:
- Ian Telfer, Chair of Goldcorp and acclaimed mining industry titan
- Katie Valentine, Partner at KPMG Australia and Global Head of Mining Consulting
- Sue Paish, CEO of Canada's Digital Technology Supercluster
- Jacob Yeung, University of British Columbia student and #DisruptMining UBC Captain, and
- Wal van Lierop, President & CEO, Chrysalix Venture Capital.
CEO David Garofalo announced that net proceeds of $200,000 from the #DisruptMining live finale will be granted toward mining, innovation and technology scholarships to the University of British Columbia. In addition to the scholarships, Goldcorp and KPMG announced a $50,000 donation to Hope Air, a national charity arranging free transportation to medical appointments for Canadians living in remote communities that would otherwise be challenged to receive specialized medical care.
#DisruptMining, a mining innovation accelerator, offers entrepreneurs a platform to bring disruptive and exponential technologies to the sector, whether it's unlocking exploration opportunities; finding operational and production efficiencies; reducing the environmental footprint and delivering on sustainability commitments; or developing alternative ways to finance mines and capital projects. Approximately 90 submissions were received for #DisruptMining 2019. On March 3, 2019, during the annual Prospectors and Developers Association of Canada (PDAC) conference, semi-finalists had the opportunity to showcase their ideas at the innovation expo, the largest innovation-focused networking event at PDAC. Three #DisruptMining finalists pitched their competing ideas at the live "shark-tank" style gala, co-hosted by Goldcorp and KPMG.
About Goldcorp www.goldcorp.com
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.
Cautionary Note Regarding Forward-Looking Statements
Certain disclosures in this document constitute forward-looking statements, including the timing and completion of the #DisruptMining expo and live finale. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to execute the challenge in accordance with the terms described herein. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed annual information form. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
No purchase or skill-testing question is required, and the chances of earning a spot as a finalist or semi-finalist depend on the number and caliber of entries received during the submission period. The #DisruptMining challenge is open to all individuals or groups of individuals in Canada or the US (excluding residents of Florida) who are at least the age of majority in their province, state, territory or country of residence. Eligibility to earn an opportunity to negotiate an investment from Goldcorp requires travel to Toronto, Canada on March 3, 2019 and participation in the live finale event on March 3, 2019. For complete eligibility criteria, please refer to www.disruptmining.com
* CAD $1 million investment not guaranteed, and/or investment may be allocated among multiple finalists; exact level of investment, if any, is at Goldcorp's sole discretion and subject to completion of appropriate due diligence.
For further information please contact:
SOURCE Goldcorp Inc.