Discover: How data science and mining intersect in the 21st century
More than 10 countries and 70 companies are currently using MX Deposit and the services of Minalytix. As the name of a company often gives a sense of the business, what exactly does Minalytix do?
“We build software solutions for the mining industry,” said David Peres, the company CEO.
That is quite a tight condensation of the products and services they have developed. What does that really mean?
“Well, we help with the acquisition of information often necessary to lift companies to the next level,” Peres said.
Minalytix work could include data from drill core samples or even mapping health and safety performance.
“We are very much focused on systematic data gathering and data management. Helping customers digitally transform is a huge part of our business,” he said.
That next level might also be answers that include analysis and predictions from reputable data. Sometime this is only to comply with regulations, but it can do more.
“Digitization of data is not just about collection, but it can make business better,” Peres said. “Persistent, or backed up, historical data is useful, but if deriving forecasts and answers there is even more value.”
Minalytix has no actual, physical, cellophane-wrapped product you can touch; that is the reality of the many of today’s start-ups. Peres talks of cloud-based resources and secure servers where information resides.
Technically complex systems are boiled-down to something a domain user can make use of properly. The original team vision included building “MX Deposit,” a new tool and a new standard in mining exploration and development.
It has been only six and half years since the two principals – Peres and Rob Patterson, as vice-president – launched. Their first location was a home office. They then moved to a hot desk in the shared workspace in the NORCAT Commons. Next was a small office, and soon it was a dedicated space at the Maley Drive complex.
Growing every year, they are now a staff of 20. Given this trend, is there the natural trajectory of an imminent need for another move to new space to accommodate this increase? Peres knows with 2020 right around the corner it is a perfect time to look forward, and also look back.
A track record of hiring additional programmers has meant scaling properly to a growing customer base and internal need.
Peres is proud that Minalytix is an identified frontrunner in this ecosystem.
“The industry had a tendency to lag behind others for adoption of new technology.”
Peres notes there is now a rapid transformation even though we often still use the word “paperwork” for the collection of data.
“We are doing so many things right now, and we have taken a lot of steps to ensure predictions have a proper audit trail.”
Using geological data as an example Peres points out that their tools and working with a partner they offer a high degree of expertise; helping mining engineers and investors map out ore body resources and reserves and make informed decisions.
“We have partnered with others that have a natural affinity at driving health, safety and environment, risk management, exploration data, and production data.”
“Our clients love the results and have asked for more,” Peres said. “More projects needed more people. We’ve sourced talent locally as much as possible but also are a very diverse group that bring international skills.”