Rio Tinto partners with a startup investor to drive technology innovations in the mining industry

Rio Tinto, a leading global mining group, is reportedly collaborating with a world-famous venture studio and startup investor Founders Factory to support the advancement and commercialisation of breakthrough technologies that will lead mining companies, including bauxite miners, to automation, decarbonisation, and safe mining operations.

According to a report on April 9, Rio Tinto will invest A$14.4 million in global pre-seed and seed-stage startups in collaboration with Founders Factory over the next three years. The investment will go to companies focusing on decarbonisation, exploration processing, safe mine operations, and automation.

Each startup will receive a cash investment and a chance to participate in a four-month accelerator programme run by Founders Factory. Founders Factory backs visionary founders with capital, dedicated support from a team of 70+ operators, and unrivalled access to a coalition of industry-leading corporate partners.

The Western Australian Government has also collaborated with Founders Factory to invest in startups that preserve and restore nature and biodiversity.

Rio Tinto Iron Ore Chief Executive Simon Trott said, "Technology has always been at the forefront of our industry and Western Australia can be the Silicon Valley of the global mining industry."

He added, "Our iron ore operations in the Pilbara are among the most technologically advanced in the world. This exciting new partnership gives us the opportunity to build on our innovative legacy to unlock new technologies and help our business find better ways to provide the materials the world needs. With the backing of industry and the State Government, local and international start-ups will receive investment opportunities and access to real-world testing and scaling support, helping Western Australia's innovation economy to grow."

Western Australian Premier Roger Cook said, "Securing the internationally renowned Founders Factory for Perth is a major coup for our State. This is the first time the tech accelerator has operated in Australia, providing a springboard for innovative local businesses to reach an international audience and maximise their chances of success."

Founders Factory CEO Henry Lane said, "We are excited to be partnering with Rio Tinto and launching operations in Western Australia. Startups can drive further productivity, safety and automation in the mining sector, whilst accelerating the industry's transition to Net Zero. This program can help international and local founders test their technologies with the global leader in the sector and find pathways to commercial scale and impact."

Technological advancements are of utmost importance for the bauxite industry to implement automation in mining processes and reduce carbon emissions. On average, bauxite mining emits less than 100 kg CO2 per tonne of bauxite.