The previous year, a notable breakthrough was achieved by mining startup KoBold, which announced the discovery of one of the world’s largest copper deposits in Zambia in more than a decade, drawing significant attention.

Another startup, Earth AI, has now shared with TechCrunch its own significant finding: the identification of promising deposits of critical minerals in regions of Australia that had been overlooked by other mining outfits for decades. Although the size of these deposits is not yet certain, the discovery suggests that future supplies of critical minerals may emerge from the combination of field data analyzed by artificial intelligence.

According to Roman Teslyuk, founder and CEO of Earth AI, “The actual, real frontier [in mining] is not so much geographical as it is technological.” This perspective underscores the innovative approach Earth AI is taking in mineral exploration.

Earth AI has successfully identified deposits of copper, cobalt, and gold in the Northern Territory, as well as silver, molybdenum, and tin in another location in New South Wales, approximately 310 miles northwest of Sydney. These findings are a result of the company’s advanced technological approach to mining exploration.

The concept of Earth AI originated from Roman Teslyuk’s graduate studies. As a native of Ukraine pursuing his doctorate at the University of Sydney, Teslyuk gained insight into Australia’s mining industry. He noted that the government owns the rights to mineral deposits and leases them for six-year terms, with exploration companies required to submit their data to a national archive since the 1970s.

Teslyuk observed, “For some reason, nobody’s utilizing this wealth of information.” He envisioned creating an algorithm that could absorb and learn from the vast archive of data, including the failures and successes of millions of geologists, to make more accurate predictions about future mineral discoveries.

Initially, Earth AI focused on developing software to predict potential mineral deposits, intending to collaborate with customers interested in exploring these sites further. However, potential clients were hesitant due to the unproven nature of the technology, preferring not to invest millions based on predictions alone.

Teslyuk acknowledged, “Mining is a very conservative industry.” Innovations outside the approved norms are often met with skepticism, which posed a significant challenge for Earth AI’s novel approach.

In response, Earth AI decided to develop its own drilling equipment to validate the potential of the sites it had identified. The company was part of Y Combinator’s spring 2019 cohort and spent subsequent years refining both its hardware and software. In January, Earth AI secured a $20 million Series B funding round, marking a significant milestone in its growth.

While Earth AI, like KoBold, utilizes AI in its search for minerals, Teslyuk emphasizes that Earth AI’s approach differs. The company’s algorithms are designed to quickly and efficiently scan large areas to identify deposits that might have been overlooked, representing a technological advancement in the field of mineral exploration.

Teslyuk noted, “The traditional method of exploring for metals, which was common in the 20^th century, is excessively time-consuming, often taking decades to yield results.” He believes that with the rapid pace of the modern world, such lengthy exploration times are no longer viable, highlighting the need for innovative, technology-driven approaches like that of Earth AI.