Veracio joins forces with Minalyze

Veracio's landmark acquisition of Minalyze set to fast-track global orebody knowledge through enhanced data analysis and AI.

Pioneering a transformative leap in geosciences, Veracio has proudly entered into a binding agreement to acquire pioneers in scanning and data innovators, Minalyze for a total consideration equal to US $29.3 million. With the unique combination of Veracio’s AI and advanced analytics solutions and Minalyze’s geological data visualization technology, this strategic acquisition will transform the way the industry captures, analyzes, and interprets geological information, ushering in an era of informed decision-making in an increasingly complex and data-driven world.

“This acquisition represents an exciting new chapter for both Veracio and Minalyze, we see this as a 'better together' opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry.”
— JT Clark, Veracio Chief Executive Officer

Annelie Lundström and Mikael Arthursson, the esteemed co-founders of Minalyze, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner.

"Joining forces with Veracio is a remarkable step forward," says Annelie Lundström. "We believe this acquisition will enable us to enhance what we’ve accomplished to date, deliver distinct value to our clients and redefine industry benchmarks collaboratively."

“We are committed to maintaining the quality and innovation the industry has come to expect from both Veracio and Minalyze.”, said Mike Ravella, Veracio’s Chief Innovation Officer. “We want to assure our clients on both sides of this transaction that the products and quality of services they trust and value will continue to be available and well-supported, and we encourage and appreciate their continued support.”

This landmark deal will capitalise on the synergy between Minalyze and Veracio’s scientific and technological progress and prowess. Veracio remains steadfast in its mission to evolve data acquisition and AI in geosciences, and to unveil vital resources globally with enhanced speed. Completion of the transaction is scheduled to occur on 20 September 2023.

About Minalyze

Minalyze has a long history of developing scanning instruments for core samples and software for the visualization of geological data. The company’s patented and unique scanner and cloud-based software for digitizing large volumes of drilling samples generate high-resolution and consistent data through fast, non-destructive collection of multiple datasets.Minalyze has achieved international commercial success with clients in Europe, Australia, Africa and North America.

About Veracio

Veracio offers mining clients a range of solutions that improve, automate, and digitally transform their orebody sciences in exploration, resource definition and production. Championing a modern approach through a diverse product portfolio Veracio fuses science and technology together with digital accessibility by using advanced scanning, sensing with strong data governance and the deployment of AI to accelerate real-time decision making and significantly improve efficiency, profitability, and sustainability across the value chain.

Press Contacts

Kamran Shaikh
PR Associates
Dave Yeates
Tony Shaffer
Boart Longyear


With over 100 years of hard-won experience and international pedigree in our field, Veracio pioneers ground-breaking technologies to provide clear, accurate data sets that reveal more valuable, actionable information than ever before.

From in-field geochemistry and artificial intelligence, to on-rig performance capturing rock properties in real-time, our platforms are designed to change what you expect from your own orebody knowledge.

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A new entity that sits at the intersection of technology and orebody science.

Sample Scanning
TruScan™ offers explorers and mine geologists non-destructive and accurate elemental data of chips and core, right there in the field. Capable of scanning 80 to 100m (200 to 300 ft) of core per 12-hour shift (depending on required data density) and many more meters (feet) per shift on RC chips, a single unit can potentially scan the core from multiple drill rigs, legacy core, or a combination of both.
About Veracio

Our mission is simple.

At Veracio, we’re building and deploying a new wave of technologies that will redefine the way the world mines. Leveraging artificial intelligence and advanced analytics to generate powerful, differentiated data about what lies beneath us.Where believe more is less. And when you know more, you work better, you search less and waste less.