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GSI plans to install AI for use in mineral exploration

Economic Times

Economic Times · 1y ago

GSI plans to install AI for use in mineral exploration

The Geological Survey of India (GSI) plans to leverage advanced technologies such as drones, artificial intelligence (AI), and machine learning (ML) for more accurate mineral exploration. This move is expected to enhance efficiency, save time and resources, and uncover hidden mineral deposits. GSI Director General Janardan Prasad highlighted the accuracy of AI and ML in delineating potential mineralization areas, emphasizing the use of these technologies for efficient exploration. Mines Secretary V L Kantha Rao urged exploration agencies and startups to focus on critical minerals, potash, and concealed deposits while adopting new-age technologies like AI and ML to expedite exploration activities.

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GRSE to build two Coastal Research Vessels for GSI in Kolkata

Economic Times

Economic Times · 1m ago

GRSE to build two Coastal Research Vessels for GSI in Kolkata

Garden Reach Shipbuilders and Engineers (GRSE) Ltd signed a contract to build two Coastal Research Vessels for the Geological Survey of India in Kolkata. Each vessel will be 64 meters long, with a deadweight tonnage of 450 tons and accommodate 35 personnel. These vessels will support offshore geological mapping, mineral exploration, and ocean environment research, featuring modern scientific laboratories. GRSE is noted for research vessel expertise alongside its warship construction operations.

Bengaluru’s Drone Start-Up Squadrone Collaborates With Geodia Industries

OutlookIndia

OutlookIndia · 1y ago

Bengaluru’s Drone Start-Up Squadrone Collaborates With Geodia Industries

Bengaluru-based start-up Squadrone Infra and Mining has partnered with Geodia Industries in South America to tap into a $3-4 billion opportunity in mineral exploration. The alliance aims to redefine geophysical prospecting by integrating drone technology with AI and ML-driven exploration technology. The collaboration seeks to set new industry standards for precision and efficiency in mineral exploration while emphasizing environmental responsibility. The partnership aims to complete exploration processes that typically take years using traditional methods in just a few months using cutting-edge technologies.

Hindustan Copper Ltd to bid for critical mineral, REE blocks with IOCL, GAIL, RITES: Top official

Economic Times

Economic Times · 23d ago

Hindustan Copper Ltd to bid for critical mineral, REE blocks with IOCL, GAIL, RITES: Top official

Hindustan Copper Ltd, a state-owned enterprise, intends to bid for critical mineral and rare earth element (REE) blocks in collaboration with PSUs like IOCL, GAIL, and RITES. This move is part of its diversification strategy. The company also plans to partner with Coal India Ltd for copper and critical minerals exploration in Chile. Hindustan Copper aims to broaden its operations beyond copper by participating in mineral block auctions and infrastructure development.

Coal India consultancy unit CMPDIL files for IPO

VCCircle

VCCircle · 1m ago

Coal India consultancy unit CMPDIL files for IPO

Central Mine Planning and Design Institute Ltd (CMPDIL), a consultancy unit of Coal India, has filed for an IPO, planning to sell up to 71.4 million existing shares. The draft prospectus was filed without disclosing the IPO size. CMPDIL, India’s largest coal and mineral consultancy, offers services in mine planning and exploration. SBI Capital Markets and IDBI Capital Markets are managing the IPO. Meanwhile, Coal India has not yet filed IPO papers for Bharat Coking Coal Ltd.

The Great Salt Lake Is Full of Lithium. A Startup Wants to Harvest It.

Livemint

Livemint · 1y ago

The Great Salt Lake Is Full of Lithium. A Startup Wants to Harvest It.

California startup, Lilac Solutions, plans to extract lithium, a critical mineral for electric vehicle batteries, from the Great Salt Lake. The company aims to use pipes to suck up water from the lake, extract lithium, and then reinject the water back into the lake to minimize environmental impact. Lilac plans to produce up to 20,000 tons of battery-grade lithium per year and has raised $145 million to fund the project. The extraction process involves reusable ceramic "beads" that attach to lithium atoms, making it faster and more environmentally friendly than traditional methods.

Alphabet shares take $120 billion blow as search warnings blare

Economic Times

Economic Times · 2m ago

Alphabet shares take $120 billion blow as search warnings blare

Alphabet Inc.'s shares experienced a significant decline, losing $120 billion in market value, as revealed competition risks in its search business due to AI advancements emerged. Apple's exploration of AI integration in its web browser and declining use of Google as a default search engine contributed to the concerns. Despite Alphabet's strong search advertising business and market share, investor anxiety persists over potential disruptions and profitability risks due to evolving AI competition.

Google expands Gemini AI support to Android 10 and 11 devices: How to use it

Livemint

Livemint · 1y ago

Google expands Gemini AI support to Android 10 and 11 devices: How to use it

Google's AI assistant Gemini is now compatible with Android 10 and 11, expanding accessibility beyond Android 12 and newer versions. This move allows a broader group of users to benefit from Gemini's advanced AI features. The updated Gemini app is available for download on the Google Play Store, enabling Android 10 users to install and use the AI assistant. This expansion demonstrates Google's commitment to making its AI technology more inclusive and accessible to a wider range of Android users. With Gemini now compatible with older Android devices, users can expect continuous updates and new features.

Fastweb to develop native Italian trained AI language model

Economic Times

Economic Times · 1y ago

Fastweb to develop native Italian trained AI language model

Italian telecom operator Fastweb has announced plans to create an artificial intelligence large-language model (LLM) trained in native Italian. The company intends to utilize the LLM to assist its corporate and public administration customers in developing AI tools. Fastweb will build the LLM with the help of generative AI experts and extensive datasets in the Italian language. In addition, they will install an NVIDIA AI-powered supercomputer in their Lombardy data center and make the technology available to third parties via their cloud services.

Vedanta eyes $2 billion copper project investments in Saudi Arabia | Company Business News

Livemint

Livemint · 7m ago

Vedanta eyes $2 billion copper project investments in Saudi Arabia | Company Business News

Mining company Vedanta Ltd. plans to invest $2 billion in significant copper projects in Saudi Arabia. The company's subsidiary, Vedanta Copper International, has signed an agreement with the Saudi Arabian Ministry of Investment and Ministry of Industries & Mineral Resources to establish a greenfield copper smelter and refinery and a copper rod project. The investment supports Saudi Arabia's Vision 2030, which aims to increase the minerals sector's GDP contribution and tap into $1.3 trillion worth of mineral resources. Vedanta's projects will contribute to job creation and downstream industry development, while also boosting the nation's GDP by $19 billion.

Jeff Bezos to sell up to 50 million Amazon shares by January 2025

Economic Times

Economic Times · 1y ago

Jeff Bezos to sell up to 50 million Amazon shares by January 2025

Jeff Bezos plans to sell up to 50 million Amazon shares by January 2025. This move by the Amazon CEO is part of his previously announced intention to fund his space exploration company, Blue Origin. The sale of shares, worth approximately $1.5 billion at the current stock value, is expected to provide the necessary funds for Bezos' ambitious space exploration goals.

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