How Augmented Reality is Disrupting the Mining Industry in 2020

PALM BEACH, Florida, Jan. 14, 2020 /PRNewswire/ -- Augmented reality is quickly becoming one of the must-have technologies for major industries, including healthcare, government, military, automobiles, and education. It's even transforming the mining industry with regards to improving mine productivity, reducing maintenance costs, protecting miners, providing site tours of mines, and training in real-world environments, notes Mining Technology. Better, "Rather than simply viewing a 2D representation of logs – or even a 3D view – on a monitor or paper, think about being able to physically 'lift' the core from ground and see the geology, geophysics and imagery overlaid on a 3D representation of the hole in its physical location, with the relative geology of all other boreholes in the vicinity," notes Grey Properjohn of Australian company Vix Technology. "The potential is amazing and set to revolutionize, if not redefine, current thinking."  These advancements are creating sizable, exciting opportunity for top companies like NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR), BHP Group (NYSE:BHP), Newmont Corporation (NYSE:NEM), Rio Tinto Group (NYSE:RIO) and Barrick Gold Corporation (NYSE:GOLD).

NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality (AR) for eCommerce and AR learning applications just announced that Romios Gold Resources (TSX.V:RG)(OTC:RMIOF) a junior mining company, has contracted for the companies 3D/AR omni-channel services. Today's announcement marks the beginning of a significant new use case and opportunity for NexTech's AR Solutions in the mining sector. The top 40 global mining companies, which represent a vast majority of the whole industry, reported some $683 billion U.S. dollars of revenue in 2018 according to Statista. NexTech's industry-leading AR technology will help drive Romios marketing activities in 2020 and creates an enormous new business opportunity for Nextech.

"Romios Gold Resources is delighted to work with NexTechAR as we introduce Augmented Reality to the Resource industry together. Tom Drivas, President and Director  continues,  "We believe there is great value in allowing potential investors and industry experts to view core samples from our exploration projects in high-fidelity 3D. Going forward we will look to find other innovative ways to leverage this technology into our various marketing strategies, and pioneer together, new industry standards."  Evan Gappelberg CEO of Nextech comments ,``We are excited that Romios has adopted NexTech powerful and industry-leading augmented reality offering to drive its product marketing and client education activities. Our 3D augmented reality solution and our AR learning tools will help Romios to bridge the gap by showing in 3D/AR what actual core samples look like for investors and potential investors creating a critical use case to Romios and the mining industry. " He continues, "We are always looking for new industries to leverage our AR  solutions. The mining sector is certainly a new industry for us and we are the first companies to create 3D/AR core samples, which we believe could become a new industry standard  for the entire mining industry." Nextech will be attending PDAC, the world's premier mineral and exploration mining convention March 1- 4 at the metro Toronto Convention Centre to showcase these core samples and mine for more business.

Other related developments from around the markets include:

BHP Group (NYSE:BHP) confirm that Andrew Mackenzie retired as an Executive Director of the Company on 31 December 2019. The following information is provided in accordance with section 430 (2B) of the UK Companies Act 2006. BHP's Remuneration Report for the financial year ending 30 June 2020 will include the remuneration earned by Mr. Mackenzie during the financial year ending 30 June 2020 in respect of his appointment as Chief Executive Officer and Executive Director of BHP.

Newmont Corporation (NYSE:NEM) is transferring experienced mining leader Jim Cooper, General Manager of Boddington in Australia, to lead the Peñasquito mine in Mexico to optimize this world-class asset. Jim will assume leadership of Peñasquito in the first quarter of 2020 and report to Dan Janney, Newmont's Regional Senior Vice President for North America. "Under Jim's leadership, Boddington has delivered step-change improvements in safety, mill throughput and recovery, mine plan sequencing and execution," said Tom Palmer, President and Chief Executive Officer. "Boddington's scale and processing characteristics are similar to Peñasquito's, making Jim uniquely qualified to replicate Boddington's consistently strong performance at Peñasquito in Mexico."

Rio Tinto Group (NYSE:RIO) awarded Perth-based company Mondium a contract valued at approximately A$400 million for the design and construction of the Western Turner Syncline Phase 2 (WTS2) mine in the Pilbara region of Western Australia. Mondium will undertake all engineering and design, procurement and site construction works associated with the WTS2 development, including the process plant, overland conveyor and non-process infrastructure. The work is expected to create 450 jobs starting in the first quarter of 2020 and is expected to be completed in 2021. Mondium and Rio Tinto will work closely to ensure the contract provides local and Indigenous employment as well as business opportunities in the region. Rio Tinto Iron Ore chief executive officer Chris Salisbury said "We're committed to supporting WA businesses, buying locally and supporting our communities through the creation of jobs. We're pleased to award this contract to Mondium who share those values. "We're continuing to invest in Western Australia and have a number of development projects in the pipeline that will continue to provide opportunities for local companies."

Barrick Gold Corporation (NYSE:GOLD) will release its fourth quarter and year end results to end December 2019 on Wednesday, February 12, 2020. President and CEO Mark Bristow will host a live presentation on the results at 11:00 EST at Barrick's corporate office in Toronto on that day. The presentation will be linked to a webcast and conference call. The company will release preliminary production and sales information for Q4 2019 on January 16, 2020.

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated thirteen thousand six hundred dollars for news coverage of current press releases issued by NexTech AR Solutions, by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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