Barrick Gold uses Fleet Space tech for Reko Diq exploration

The site is a key asset in Barrick Gold's copper portfolio and among the world's largest untapped copper-gold resources.

Umesh Ellichipuram July 10 2024

Barrick Gold has deployed Australian space exploration company Fleet Space Technologies’ ExoSphere system to bolster its copper exploration efforts at the Reko Diq site in Pakistan.

ExoSphere, which utilises advanced space technology, AI and 3D multi-physics, is tasked with creating detailed 3D subsurface maps across an area exceeding 1,150km².

The Reko Diq project is a key asset in Barrick Gold's copper portfolio and is said to be among the world's largest untapped copper-gold resources.

Situated within the Chagai mountain range, the site is part of the Tethyan Magmatic Arc, renowned for its substantial copper-gold deposits.

Barrick Gold aims to commence production by 2028, with the project expected to significantly contribute to Pakistan's economy, particularly in the Balochistan province.

By integrating Fleet Space's satellite network, smart seismic sensors and rapid data analysis, ExoSphere provides immediate 3D mapping and AI-driven drill targeting, all while minimising environmental impact.

This innovation enables more dynamic, precise exploration and gives on-site teams instant access to actionable data.

The implementation of ExoSphere at Reko Diq is a testament to the technology's potential to transform data acquisition and processing, thereby enhancing decision-making quality and speed.

The environmental benefits are also notable, aligning with sustainable exploration practices.

Following a A$50m ($33.67m) Series C funding round, Fleet Space's valuation has doubled to A$350m.

The company also has ambitious plans, including deploying a version of ExoSphere to the Moon by 2026.

In December 2022, Barrick Gold finalised an agreement with Pakistan’s Federal Government and Balochistan’s Provincial Government to resume operations at the long-stalled Reko Diq project.

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close