Australian mining technology firm NextOre says a A$5 million equity investment in the company by Germany’s Gebr Pfeiffer leaves it well funded to pursue growth.
NextOre completed a $5.2 million private funding in July this year, backed by RFC Ambrian’s QCM fund.
The share subscription and strategic cooperation agreement with comminution technology company Gebr Pfeiffer will see the two firms collaborate to examine ways to “drive a step-change in efficient, environmentally friendly minerals processing” using NextOre’s magnetic resonance sensors and real-time bulk ore sorting equipment, and Pfeiffer’s innovative vertical roller mill technology for dry grinding.
“Rising energy costs coupled with declining ore grades and the need for improved sustainability require new process technology,” Gebr Pfeiffer CEO Mathias Dulfer said.
“We are pleased to announce our partnership with NextOre to provide solutions that together can set a new standard.
“By investing in NextOre, a company that has developed this innovative and ground-breaking ore sensing technology over many years, we are building a strong foundation for a collaboration that will add sustainable value to the mining industry.”
NextOre CEO Chris Beal said the two companies were working on an integrated iron ore sorting and grinding solution for Brazilian and Australian iron ore producers, and looking at opportunities in the copper sector.
“We are excited at the opportunity to combine NextOre’s leading technology with Pfeiffer’s dry grinding technology, which is seeing rapid adoption into leading miners’ feasibility studies and which we see as a game changer for environmental sustainability,” Beal said.
“NextOre is undergoing a phase of significant growth. Pfeiffer’s investment in our business is a strong endorsement of NextOre’s magnetic resonance technology and recognition of its game-changing potential in the global resources industry.”
