In the summer of 2024, the mining startup KoBold attracted attention by announcing the discovery of a large copper deposit in Zambia. Recently, another startup, Earth AI, disclosed to TechCrunch its own findings of several valuable mineral deposits in Australia, previously overlooked by other mining operations. While the exact size of these deposits remains unclear, they suggest that future mineral supplies may increasingly originate from data analyzed by artificial intelligence.
According to the CEO of Earth AI, the real frontier of mining is not geography but technology. The company has identified significant deposits of copper, cobalt, and gold in the Northern Territory, along with silver, molybdenum, and tin in New South Wales. Earth AI originated from academic work at the University of Sydney. Since the 1970s, exploration companies have been required to submit their findings to a national archive, which remains underutilized despite the potential benefits. Earth AI created an algorithm that could synthesize historical geological data to improve predictions for mineral discovery. Earth AI then transitioned from a software company into a mineral prediction and exploration venture, despite initial skepticism about the reliability of untested technology.
To substantiate its discoveries, Earth AI decided to create its own proprietary drilling operation. Additionally, the company was accepted into Y Combinator’s spring 2019 cohort, enabling enhancements to both its hardware and software. In January 2025, Earth AI successfully secured $20 million in funding. Earth AI’s strategy of using AI to swiftly scanning extensive areas, revealing overlooked deposits, contrasts markedly with traditional labor-intensive exploration methods that can take decades pay-off.
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