Cementation of North Bay was declared a co-winner during the #DisruptMining competition in Toronto on March 5.
The company, along with Kore Geosystems of Toronto, will share in a $1-million prize offered by Goldcorp for a proof-of-concept idea that will have real-world applications in the mining industry.
Cementation pitched its idea for injection hoisting technology, which uses a combination of existing and proven crushing, pumping and slurry technologies to eliminate the need for mine shaft production hoisting or trucking, by transporting ore to the surface using a pump-driven pipeline loop.
Cementation also won the People’s Choice award, adding another $50,000 to its total prize winnings.
The company was one of five finalists selected by a panel of judges to pitch their ideas during a “Dragons’ Den”-style live event. The challenge, issued by Goldcorp and Integra Gold Corp., was designed to showcase individuals, groups and companies that are using exponential technology and disruptive concepts to tackle the vast challenges faced by the mining industry.
The competition received 153 submissions. The final event took place during the opening day of the annual Prospectors and Developers of Canada convention in Toronto.
“It was a great event showcasing just how innovative the mining industry can be, and all of us at Cementation are thrilled to have been involved and to have Injection Hoisting so well received,” Cementation president Roy Slack said in a news release.
In addition to the monetary windfall, Cementation has had three companies express interest in working with the company to help develop the injection hoisting technology.
The Cementation group of companies delivers underground mine development and infrastructure as well as surface material handling and processing facilities solutions for mining projects worldwide. It is headquartered in North Bay, but has additional offices in Canada, the U.S. and Chile.