Canada-based Motion Metrics, a worldwide mining technology company, is to be acquired by the Weir Group in exchange for an initial payment of £88 million, subject to usual net debt and working capital adjustments.
Motion Metrics is the world’s top developer of breakthrough AI and 3D rugged Machine Vision Technology for usage in mines throughout the globe. Using these technologies, mining companies may improve their safety, efficiency, and sustainability. The Vancouver headquarters of Motion Metrics will become Weir’s worldwide center of excellence for AI and Machine Vision technologies as part of the arrangement. In terms of Weir’s product line, Motion Metrics applications are an excellent fit. As a result, it will join ESCO’s ground engaging tools (GET) business, where ESCO is already a worldwide leader. As a part of the Weir Group’s mining value chain, Motion Metrics AI and Machine Vision technologies are anticipated to be used.
Upon completion, a UK engineering firm said that the consideration will be paid in cash and that Motion Metrics technology is utilized in mines across the globe. Mining operations’ safety, efficiency, and long-term viability are becoming more critical to the industry’s workers and employers alike. Motion Metrics uses innovative Machine Vision, Distributed AI, and Machine Learning to serve these vital goals.
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Using Motion Metrics cameras, you can keep an eye on your equipment’s performance, as well as its defects, payloads, and rock fragmentation. This data is processed utilizing embedded and cloud-based machine learning to offer real-time feedback to the mining operation. This allows for the quick detection of possible safety and downtime concerns that might be costly and inconvenient to deal with. Boulder and foreign body detection are included to locate ground engagement tools that may cause catastrophic damage to crushing machinery if they are not discovered. As miners aim to boost productivity while lowering energy consumption in areas like comminution (crushing, screening, and grinding), the most energy-intensive process in mining, this information may be utilized to optimize asset efficiency and assist better decision making.
A variety of goods and solutions may be used from the beginning of the drilling process through primary processing based on these technologies. Some of the world’s leading mining corporations use Motion Metrics technology on more than 80 mine sites. Weir’s aftermarket-based business strategy complements this concept, which generates revenues from the initial sale of equipment and recurrent aftermarket revenues like subscriptions to its cloud computing platform, services, and replacement parts.