The brief

Analyst view

• AI-powered mineral explorer backed by Bill Gates and Jeff Bezos. Discovered Mingomba using proprietary geological AI.
• Mingomba copper project: $2.3–2.5B investment; 300 kt/yr production in early 2030s. One of Africa's deepest mines at 1,700 m.
• Raised $1.2B+ across five rounds (Series C-II: $537M at $2.96B valuation, Jan 2025); led by T. Rowe Price and Durable Capital.

Technical approach

As reported

AI Mineral Exploration

Machine learning on geological data

AI trained on geological, satellite, and academic data plus proprietary field measurements. Models predict high-grade deposits.

Efficacy of Information

Reducing exploration uncertainty

Proprietary framework determines which data to collect at each step to maximize certainty and minimize drilling costs.

Deep Deposits

Finding ore far underground

AI locates high-grade ore at ~1,700 m depth, where conventional surveys miss deposits.