Blast Dog, a breakthrough mining support technology developed in Australia by global mining technology company IMDEX, will be used in Pilbara’s Iron Bridge operation under a new three-year contract.
Iron Bridge is an unincorporated joint venture between FMG Iron Bridge, a subsidiary of Fortescue Metals Group (Fortescue), and Formosa Steel IB.
The deal is Blast Dog’s first commercial application and offers tiered access that IMDEX estimates will generate $13 million in revenue in the first term.
Blast Dog is a commodity-agnostic blasthole detection and physics measurement technology that is semi-autonomously deployed to record material properties and blasthole properties at high spatial densities throughout lab benches and mines.
It provides physical property measurements of materials prior to blasthole drilling and informs decisions regarding blasting, screening, mixing, stockpiling, etc. before these materials are processed. These properties form the input to a tactical approach to ore characterization and processing.
IMDEX CEO Paul House said the acquisition of the Iron Bridge scope is a defining moment for the company.
“This is a homegrown technology designed to bring meaningful and quantifiable benefits to the mining industry,” he said.
“No other technology produces the same quantity and quality of pre-blasting rock data and has the ability to significantly impact downstream processes.”
IMDEX chief geoscientist Dave Lawie said the company has overcome many obstacles, including access to mines caused by COVID, to implement projects in Australia and the Americas. .
“This is a recognition of five years of hard work with METS Ignited project partners across the United States, Queensland, Western Australia and Chile,” he said.
“In addition to our Iron Bridge joint venture work, we are involved in ongoing pre-commercial trials at various operations in Australia, Canada and Chile.”
The announcement comes as IMDEX announces record revenue, record profit and continued EBITDA margin expansion for the full year.
The company reported that its fiscal year 22 was defined by a combination of positive market demand offset by a challenging workforce and supply chain considerations.
House said the results demonstrate the strength of IMDEX’s business model, its goal to outpace industry market growth, and the responsiveness of its global team in all circumstances.
“The significant increase in revenue is due to an increase in integrated solutions to our customers and an increased share of revenue from our high-margin sensor and software businesses,” he said.
“Rentals and subscriptions accounted for 58% of our revenue at the end of our 22nd fiscal year. Importantly, we delivered an EBITDA margin of 31%, our third consecutive year of EBITDA margin growth.”
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