Accel-KKR-backed Seequent acquires minority stake in Minalytix


Photo courtesy of Minalytix/Seequent

Seequent has acquired a minority interest in Minalytix, a Sudbury, Ontario-based mining data software company.

Terms weren’t disclosed.

Founded in 2013 by CEO David Peres and COO Robert Patterson, Minalytix is the maker of MX Deposit, a drill hole and sample data management platform for the exploration and mining industry.

Seequent, a Christchurch, New Zealand-based developer of geoscience analysis, modelling and collaborative technologies, said it will partner with Minalytix to maximize the value of MX Deposit for customers.

Last year, Seequent was backed by U.S. technology private equity firm Accel-KKR.

PRESS RELEASE

Seequent continues investment in innovative geoscience technology for world’s major resource challenges

Minalytix partnership and minority shareholding demonstrates Seequent’s commitment to advancing solutions to help customers solve challenges within mining and applied geosciences

CHRISTCHURCH, NZ, 11 July, 2019 – Seequent, a world leader in the development of geoscience analysis, modelling and collaborative technologies, continues its investment in geoscience technology and innovation with a minority shareholding and partnership with Minalytix, a Canadian mining data software company.

Seequent’s CEO, Shaun Maloney, says: “We’re actively seeking out ways to foster and grow further innovation for the betterment of our customers. Our shareholding and partnership with Minalytix demonstrates our commitment to investing in technology innovation and furthering our collaborative approach to help solve some of the major challenges facing the mining and minerals sector, today and in the future.”

To help companies in their search for the next world class deposit, Seequent will work with Minalytix to maximise the value of the MX Deposit platform for customers across mineral exploration, resource development, mining and closure. To help manage risk, the cloud-hosted solution simplifies how drill hole and sample data is collected, managed, and shared. Customers can log and access data from anywhere in the world.

Seequent’s GM Mining & Minerals, Nick Fogarty, says: “Technology innovation plays a vital role in the mining and exploration industries in terms of productivity, risk management and compliance. To support mining innovation, we work closely with our customers to look at areas in the mining value chain where better communication and collaboration can increase efficiencies and unlock value. Partnerships are an important part of our market approach.”

“We’re excited to announce Minalytix as our newest partner and to add MX Deposit to our offering. Drilling is one of the largest investments for any mining and exploration company, and advances in digital technology can dramatically increase the value of data generated and how quickly insights can be gained. MX Deposit is a game changer, in a matter of hours customers can create the environment they need to collect and control the drill hole and sample data, and immediately start gaining insights across all projects.”

Minalytix Co-founder and CEO David Peres says the company built its easy-to-use digital platform to close gaps in a project’s data collection in the mining industry. “Seequent are the ideal partner to help us deliver on our mission to positively impact the mining industry, as they have earned a reputation as a trusted mining innovator and have a global customer base.”

Peres says demand for its platform is being driven by the need to streamline processes and increase efficiency. “MX Deposit is the only SaaS (software as a service) solution in its class and works anywhere online and offline. Mining industry demand for digitisation is driving this sort of technical advancement.”

Seequent’s Director of Product Strategy, Mining & Minerals, Rob Ferguson says mining operations want a single source of truth when it comes to project data, real-time insights and the ability to readily collaborate and communicate with a wide range of project stakeholders.

“Our customers want to access the most up to date data and insights across all projects. It’s also important that management and other stakeholders can readily engage and tap into the collective knowledge of the team in a real time way. We design our solutions to ensure we meet these needs, and MX Deposit has been designed with these needs in mind too.”

MX Deposit helps users manage workflow around data collection and management to reduce or remove errors and provide an audit trail and data confidence. The solution works around network and connectivity issues that can be experienced in the field – when the internet is not available mobile apps let users log data and work offline. Data can be readily exported and integrated into the solution, providing context that delivers more knowledge.

MX Deposit auto-scales to meet the needs of the user basis, with no limits on amount of data that can be stored. Customers are using the solution on a range of projects from greenfield exploration to mining production, with some already logging millions of samples and blast holes and tens of thousands of drill holes.

Ferguson says, “We’re looking forward to introducing MX Deposit to our customers around the world. It’s a very flexible solution that is delivering large savings in time and cost on a wide variety of projects, while enabling company-wide consistency in data capture. MX Deposit is a valuable addition to the mining value chain – as innovation that drives productivity and helps protect margins for miners is vital for the success of the industry.”

Further information:

Clare Bisso – Communications Manager, Seequent
+64 21 318 596
clare.bisso@seequent.com

Media enquiries:
Sandra Lukey, Shine Group (PR for Seequent)
+64 21 2262 858
sandra@shinegroup.co.nz

About Seequent

Seequent is a world leader in the development of powerful geoscience analysis, modelling and collaborative technologies for understanding subsurface geoscience and engineering design solutions.

Our solutions enable people to analyse complex data, manage risk and ultimately make better decisions about earth, environment and energy challenges.

Seequent software is used on large-scale projects globally, including road and rail tunnel construction, groundwater detection and management, geothermal exploration, subsea infrastructure mapping, resource evaluation and subterranean storage of spent nuclear fuel.

Seequent’s global footprint includes its Christchurch-based HQ and R&D centre, and a network of offices across Asia/Pacific, Africa, South America, North America and Europe servicing blue chip companies and customers with leading subsurface solutions in over 100 countries.

For more on Seequent see: www.seequent.com; Twitter @Seequentglobal | LinkedIn
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About MX Deposit
For more see https://www.mxdeposit.net/