TextOres New Software Slashes Mineral Assets Search Time
Securing rights and approvals represents a common challenge throughout any operation. Searching for title information has long been one of the more significant causes of operational headaches. New technology, however, is set to provide some much needed relief for such headaches. What’s especially interesting about this new software is that the software itself isn’t actually new, just its specific application to the minerals industry. The mineral asset and mining industry has been making great strides with an advanced text and data mining software suite used mainly in defense and business intelligence. This precious resource was developed by TextOre, Inc.
The new application of this text mining software suite has been quite successful specifically as it relates to the title search market for mineral assets. Among the chief benefits that this software successfully delivers is the reduction in time required to locate land deeds and county records. This approach has proven to especially helpful with larger projects, those with a large number of plots and subsequent land leases, move forward at a significantly faster pace.
Applying this software also helps to significantly reduce the labor and costs associated with the location of data from land deeds and county records. “This is a game-changer for oil scouts and landmen,” said Eric Yerkovich an independent landman and geologist based in Texas. “This next-generation title search technology will allow oil drillers to get to mineral assets and oil reserves more quickly and cheaply, beating rival companies to the assets in a fraction of the time – and at a fraction of the cost.”
“We’ve been searching and mining detailed information from English and foreign language-based social media and have found relationships among people and events from millions of documents in Chinese, Arabic, or Russian, so why not mine title data on mineral assets from county courthouses?” says Robert Stewart, CEO of TextOre, Inc. “The tests we performed on title data in Texas worked beautifully. The possibilities are endless. Imagine the potential for this type of technology in mining medical records or insurance documents, for example.”
Rio Tinto and Alcoa begin construction with ELYSIS tech
Eliminating all direct greenhouse gases from aluminium smelting has taken a major step forward with the start of construction on the first commercial-scale prototype cells of ELYSIS’ inert anode technology, at Rio Tinto’s Alma smelter in Saguenay-Lac-Saint-Jean, Quebec.
ELYSIS has the potential to reduce the carbon footprint of aluminium production
ELYSIS is a joint venture company led by Rio Tinto and Alcoa that is developing a new breakthrough technology, known as inert anode, that eliminates all direct greenhouse gases (GHGs) from the traditional smelting process and instead produces oxygen.
The technology has the potential to transform the aluminium industry, with a significant reduction in its carbon footprint.
The inert anode prototype cells will operate on a commercial scale typical for large modern aluminium smelters, using an electrical current of 450 kiloamperes (kA).
The Honourable Francois-Philippe Champagne, Minister of Innovation, Science and Industry joined representatives from ELYSIS, Rio Tinto and Alcoa to mark the start of construction and announce a further CAD $20mn financial contribution from the Government of Canada to support the project.
The federal government's financial support will enable the creation of a unique commercial size inert anode technology showroom for future customers and will help develop the supply chain by involving local and regional equipment manufacturers and suppliers in the project.
ELYSIS is working to complete the technology demonstration by 2024 followed by the commercialization activities.
ELYSIS technology at a glance:
- The ELYSIS technology addresses the global trend towards producing low carbon footprint products, from mobile phones to cars, planes and building materials.
- The new process will reduce operating costs ofaluminiumsmelters while increasing production capacity. It could be used in both new and existing aluminium smelters.
- In Canada alone, the ELYSIS technology has the potential to reduce GHG emissions by 7 million tons, the equivalent of removing 1.8 million cars from the roads.
- ELYSIS will also sell next-generation anode and cathode materials, which will last more than 30 times longer than traditional components.
Alcoa and Rio Tinto will continue to support the ELYSIS development program alongside the Governments of Canada and Quebec.
ELYSIS is working closely with Alcoa's Technical Center, where the zero-carbon smelting technology was invented, and the Rio Tinto technology design team in France.
Alcoa's Technical Center supports ELYSIS in the manufacture of proprietary materials for the new anodes and cathodes that are essential to the ELYSIS process. The Rio Tinto technology team in France is creating commercial scale designs for the ELYSIS technology.
Vincent Christ, CEO, ELYSIS commented: “This is a great day for ELYSIS. It means that we are becoming the first technology company in the world to build commercial-size inert anode cells. While we refine the technology in our R&D Centre, we start the construction of our prototype cells. This shows our confidence in our process and in the know-how of our team. The combination of ELYSIS' zero CO2 technology and Quebec's renewable energy will be great competitive advantage for the future. I would like to thank the government for its support and all the partners for their commitment.”
Samir Cairae, Rio Tinto Aluminium managing director Atlantic Operations and ELYSIS board member added: “Today marks a real step towards the future of the aluminium industry, by progressing this breakthrough technology to cut carbon emissions. Rio Tinto is committed to supporting its ongoing development here in Quebec where we already use clean hydropower to deliver some of the world’s lowest carbon aluminium. Combining this technology with renewable hydropower holds the promise of zero carbon aluminium smelting.”