March 6, 2024
GeologicAI, a Calgary-based mining tech company, recently announced the acquisition of Resource Modeling Solutions. In a press release, GeologicAI said the transaction will create opportunities for collaboration, innovation and knowledge-sharing. The financial terms of the acquisition were not disclosed.
GeologicAI aims to revolutionize resource exploration by developing AI-driven core scanning robots and software. The company has previously received major investments from climate technology fund Breakthrough Energy Ventures and Export Development Canada Ventures.
Resource Modeling Solutions is a geostatistics and geometallurgy consulting company that specializes in expert technical work, custom software, and training solutions for mining, environmental, and petroleum companies.
The deal will enable GeologicAI to integrate Resource Modeling Solutions’ team and technology to develop advanced solutions in resource discovery and development.
Author: PJ Conlon, 2023/2024 Articling Student