Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
VANCOUVER, March 5, 2018 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) (“Goldcorp”) is pleased to announce that Acoustic Zoom is the winner of #DisruptMining 2018, the innovation accelerator designed to encourage new technologies and ideas to solve some of the biggest challenges in mining. Acoustic Zoom impressed the judges with their ultra high-frequency 3D drill hole seismic imaging and earned the opportunity to negotiate a contract or investment of up to $1 million1 with Goldcorp.
“Our vision is to give confidence to investors by augmenting the value of drill results using our innovative acoustic technology,” said Jacques Guigné, CEO and Chief Scientist Professor, Acoustic Zoom. “Our technology maps deep within the earth’s microstructure, helping exploration teams drill smarter, guide planning and achieve investment value quick. We are thrilled that Goldcorp and the judging panel of industry titans sees this value and champions our vision.”
“Technologies like the one presented by Acoustic Zoom will get us to our vision of being a technology company – and a mining company – faster,” said Todd White, COO, Goldcorp. “Each of the finalists brought something unique to the challenge making the deliberation process difficult for the judges. It was crystal clear at the #DisruptMining finale last night that disruptors are responding to our call to innovate.”
“Congratulations to Acoustic Zoom for winning #DisruptMining 2018. At KPMG we are proud to help dynamic, innovative companies achieve their ambitions and drive change. A special thank you to all the finalists and semi-finalists for being visionaries, pushing boundaries and representing the future of Canadian business,” said Elio Luongo, CEO KPMG, official Co-Host of #DisruptMining.
Acoustic Zoom aims to unlock the potential of Canada’s mineral exploration sector with high frequency 3D imaging to help map complex geological formations deep within the earth’s micro-structure. After earning a spot as a semi-finalist in #DisruptMining 2017, Acoustic Zoom perfected their technology and submitted again in 2018 earning a spot as a finalist. A breakthrough in its ultra high-frequency 3D drill hole seismic imaging method provides an unprecedented resolution of subsurface geological structures, while reducing their 3D survey costs by up to 90 percent. Acoustic Zoom’s method is intended to help exploration teams drill smarter, guide planning and achieve investment value quicker with more actionable and accurate information.
Deciding the fate of the four finalists was a panel of industry titans:
George Salamis, President & CEO, Integra Resources
Rob McEwen, Founder and CEO, McEwen Mining
Todd White, COO, Goldcorp
Veronica Knott, University of British Columbia Mining Engineering student and 2017 Engineers Canada Gold Medal Student Award recipient, and
Wal van Lierop, President & CEO, Chrysalix Venture Capital
CEO David Garofalo announced that net proceeds of $230,000 from the #DisruptMining live finale will be granted toward mining, innovation and technology scholarships to the University of British Columbia over the next three years. In addition to the scholarships, Goldcorp and KPMG announced a $100,000 pledge to HEROS hockey program, which helps vulnerable kids participate in hockey programs.
About #DisruptMining
#DisruptMining is an innovation accelerator designed to encourage new technologies and ideas to solve some of the biggest opportunities and challenges in mining. Over 100 submissions were entered into #DisruptMining 2018, representing completely new ideas and disruptive technologies that will benefit the entire mining industry. On March 4, 2018, during the annual Prospectors and Developers Association of Canada (PDAC) conference, semi-finalists had the opportunity to showcase their ideas at the innovation expo, the largest innovation-focused networking event at PDAC. Four #DisruptMining finalists pitched their competing ideas at the live “shark-tank” style gala, co-hosted by Goldcorp and KPMG. www.disruptmining.com
About Goldcorp www.goldcorp.com
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.
