US exploration firm Ivanhoe will help Electric Kingdom explore harsh terrain
RIYADH: US technology and mineral exploration firm Ivanhoe Electric aims to help Saudi Arabia “separate the haystack from the needle”, according to the company’s founder, as the kingdom looks deep into the Earth’s surface to extract mineral deposits. Is.
Speaking at the Future Minerals Forum in Riyadh on January 11, Robert Friedland, who is also the firm’s co-chairman, said Ivanhoe’s Electric Typhoon system would enable the kingdom to explore hard-to-reach areas because the mineral deposits closest to the surface are already there. have ended. searched for.
He stresses that technology has a major role to play in the world to extract minerals to meet the growing demand – keeping in mind environmental issues such as climate change.
Earlier in the day, the US firm formed a joint venture with the Saudi Arabian Mining Company, also known as Maiden, to explore and develop mining projects in the Kingdom.
The Typhoon system is Ivanhoe’s proprietary exploration survey technology that injects extremely high powered currents deep underground.
Explaining more about the technology, Friedland said the system takes a 20 kilometer long wire and inserts two ends of it into the earth and injects bolts of electromagnetic energy into the output of a nuclear power plant. “If there’s copper or gold or a mineral, it lights up like a Christmas tree and we can look at it non-invasively without drilling.”
In addition, the founder stressed that the Typhoon system also allows viewing of water “which will become one of the most valuable commodities for humans as it fundamentally constitutes life as we know it.”
“While we are surveying for metals, we will also survey the empire for water. Together with Madden, we will work on at least 48,500 km²,” the co-chairman revealed.
In addition, Ivanhoe will also provide artificial intelligence software that takes terabits of data and transforms it into clear three-dimensional imagery “that is poised to further facilitate the process of pinpointing electrical metals.”
“We are quite confident that this piece of land given by the Creator to the Kingdom of Saudi Arabia is extremely rich in minerals,” Friedland highlighted.
The FMF, to be held at the King Abdulaziz International Convention Center in Riyadh, discussed a range of topics including development in the mining sector, ways to attract investment, use of state-of-the-art technology in the region spanning Africa and West and Central Asia. region, implementing the best standards of sustainability, and more.
The conference also tackles the global constraints that could potentially affect the supply of minerals and energy, the future of mining domestically and around the world as well as the contribution of mining projects and any opportunities for development of the sector. Can do.
Saudi Geological Survey CEO Abdullah Al-Shamrani said in September 2022 that Saudi Arabia is expected to double the value of its current mineral wealth to $1.3 trillion, with rising prices for valuable minerals, especially gold, copper and zinc. .