Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile

ADELAIDE, Australia, Oct. 3, 2024 /PRNewswire/ -- Fleet Space Technologies, Australia's leading space exploration company, today announced plans to deploy its end-to-end mineral exploration solution, ExoSphere, to enhance Gold Fields' data-driven exploration and development of their Salares Norte project in Northern Chile. ExoSphere will be used to generate 3D subsurface imaging of the Brecha Principal and Agua Amarga resource areas and surrounds with the aim to drive new insights and understandings about the mineral system and its structural setting. Additionally, the survey will be used to identify new exploration targets in the near field of the BP-AA system.

"Fleet Space and Gold Fields share a vision of applying the powerful capabilities enabled by advanced satellite connectivity, 3D multiphysics, and AI to unify the end-to-end exploration journey and deliver more sustainable outcomes at scale on the path to discovery," said Flavia Tata Nardini, Co-Founder & CEO of Fleet Space Technologies. "We are proud to deploy ExoSphere to further Gold Fields' data-driven exploration and ESG targets, reinforcing their position on the forefront of innovation and supporting the development of their world-class operation in Chile."

Home to the Brecha Principal deposit and Agua Amarga resource, Salares Norte is located on the Maricunga Belt in the Andes Mountains between 3,900–4,700 meters above sea level in the Atacama region of Northern Chile. In March 2024, first gold was poured, marking a significant milestone and technical achievement for the project. Due to the remote location, challenging terrain and harsh seasonal conditions, Gold Fields has had to develop innovative strategies and engage new technologies to enhance their exploration activities whilst maintaining a low environmental footprint. Gold Fields was an early adopter of Fleet Space's end-to-end solution, ExoSphere, at its St. Ives operation in Australia. Based on these results and the near-zero surface impact of Fleet Space's smart seismic sensors (called Geodes), the application of ExoSphere at Salares Norte was a logical step to provide low-impact, rapid 3D subsurface imaging.

"In the field of mineral exploration, ExoSphere has delivered the world's largest real-time ANT survey in Australia's Macquarie Arc and now the world's highest real-time ANT survey on Chile's Maricunga Belt - radically scaling the mining industry's capacity to enhance mineral systems knowledge of highly remote opportunity zones across vast distances and at unprecedented altitudes, while minimising environmental impact," added Fleet Space CEO, Flavia Tata Nardini. "We look forward to partnering with the dynamic Chilean mining industry to unlock next-level insights and sustainability benefits across their exploration value chain."

The architecture underlying ExoSphere integrates the latest advances in satellite connectivity, 3D multiphysics and AI into a single end-to-end solution. Fleet Space's satellite network in low Earth orbit, smart seismic sensors with edge computing, and rapid data processing enable ExoSphere to deliver real-time 3D mapping of mineral systems and AI-powered targeting recommendations with near-zero environmental impact. By unifying the data acquisition, processing, integration, and targeting steps of the end-to-end exploration journey, ExoSphere makes exploration more dynamic and precise by giving remote onsite teams real-time access to actionable insights. This radically streamlines data operations, enhances the quality and speed of onsite decision making, while also reducing environmental footprint at scale.

For the real-time, predictive capabilities and sustainability benefits ExoSphere has unlocked for the global exploration industry, Fleet Space was recognised at the Banksia Foundation's 35th National Sustainability Awards as winner of the Climate Technology Impact Award for 2024. Global adoption of ExoSphere has also propelled Fleet Space's exponential growth over the past year, which included a A$50 million Series C, a doubling in valuation to A350$ million, and recognition as Australia's fastest growing company.

About Fleet Space Technologies
Fleet Space Technologies, Australia's leading space exploration company, is revolutionizing critical mineral discovery with its end-to-end mineral exploration solution, ExoSphere, which combines satellite connectivity, 3D multiphysics, and AI to image mineral systems in real-time. Over 40 leading exploration companies like Rio Tinto, Barrick Gold, and Core Lithium have used ExoSphere to conduct real-time surveys across five continents. Due to global demand for ExoSphere, Fleet Space's international footprint has expanded to the US, Canada, Chile, and Luxembourg with over 130+ employees worldwide. Fleet Space was named "Australia's Fastest Growing Company" by the Australian Financial Review in 2023 and recognized with the Climate Impact Technology Award by the Banksia Foundation in 2024. Reach out here to learn more about ExoSphere and speak with the Fleet Space team.

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Photo - https://mma.prnasia.com/media2/2521327/Gold_Fields_Deployment.jpg?p=medium600

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile

Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile

MUSCAT, Oman, Oct. 3, 2024 /PRNewswire/ -- Oman Investment Authority (OIA), Oman's sovereign wealth fund, has announced the Initial Public Offering (IPO) for 25% of the shares of OQ Exploration & Production, a subsidiary of OQ Group, which is fully owned by OIA. This IPO is set to become the largest in Oman's history on the Muscat Stock Exchange.

Of the total shares on offer, 60% will be allocated to institutional investors in Oman and international, while 40% will be available to individual investors.

The IPO, which is Shariah compliant, is part of OIA's broader divestment strategy which was announced in mid 2022. Since then, OIA has generated over USD 2.5 billion by divesting from 12 investments between 2022 and 2023. These divestments included nine private placements in various sectors and three IPOs on the Muscat Stock Exchange, including The Pearl REIF, Abraj Energy Services, and OQ Gas Networks, all of which resulted in substantial oversubscription, reflecting strong investor confidence.

OIA's approach focuses on divesting from a select number of its subsidiaries and converting them into public joint-stock companies or selling equity in these subsidiaries directly to strategic investors. This strategy aims to stimulate Oman's economy and invigorate the Muscat Stock Exchange, thereby elevating Oman to emerging market status. By listing government-owned assets publicly, OIA seeks to enhance governance, transparency, and adoption of global best practices. This policy is integral to Oman's economic diversification efforts and aims to empower the private sector to play a leading role in driving the economy. Additionally, it creates profitable investment opportunities for citizens and residents as well as attracting high-quality foreign investments.

Constantly evolving in response to global economic shifts with the aim to establish a robust institutional framework, OIA has updated its divestment strategy for the next five years, covering 2025 to 2029. OIA has also established steering committees within its subsidiaries to ensure efficient management of divestment operations. The plan includes approximately 30 investments that will be divested either through public offerings in sectors such as energy, logistics, utilities, and infrastructure or through direct sales to strategic investors in sectors including aquaculture, agriculture, and mining.

With investments spanning more than 30 countries, OIA aims to remain at the forefront of the rapidly-changing global economic landscape to bolster the national economy and elevate Oman's global competitiveness. By adopting forward-thinking economic policies, OIA is opening new investment opportunities aligned with Oman's Vision 2040, which seeks to enhance economic diversification, attract foreign direct investments, and foster partnerships with local enterprises to drive greater sustainable economic prosperity for the Sultanate of Oman.

For more information, please contact Fahad Al Toubi, Senior Specialist-Media Relations
Phone: (+968) 24745781
Email: Fahad.AlToubi@oia.gov.om
Website: www.oia.gov.om 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Oman Investment Authority Announces Largest IPO in Oman's History as Part of Divestment Strategy