Startup Series: MineSense

Today's guest is Jeff More, President and CEO of MineSense. 

MineSense provides real-time, sensor-based ore sorting and data analytics for mines. The company recently announced a $42 million Series E round led by JP Morgan's sustainable Growth Equity Group. MineSense technology platform includes a set of sensors that go into a shovel bucket, and at the moment of extraction, help identify the makeup of ore and rock with each new scoop. This helps mines reduce the amount of low-quality rock sent to milling and processing, which also helps mining operations use less power and water. 

Jeff and Cody dive into the state of mining today, MineSense's technology and how it's increasing efficiency. They also cover the company’s business model, and the adoption curves of software in the mining industry generally. And lastly, they talk about how mining is changing and how sustainability and climate factor into purchasing decisions around innovation. We've had a number of conversations on the pod recently about the state of metal supply chains, metal recycling, and related topics. But this is an excellent primer for how mining works generally and how MineSense is helping to drive optimizations into processes that have been in place for decades.

In this episode, we cover: 

• Jeff's background
• The state of mining today and its challenges
• Site selection and permitting process
• The logistics behind setting up a new mine and long-term plan
• What happens to waste
• Environmental impact of the mining process
• An overview of MineSense
• The company's hardware and software
• MineSense's focus on copper and other base metals
• The company's value proposition of increased profits and sustainability
• MineSense's business model
• Jeff's predictions for the future of the mining industry
• Advice for founders/CEOs as they navigate their go to market
• MineSense's funding to date and how the business plans to capitalize moving forward

Get connected: 
Cody Simms
Jeff More / MineSense
MCJ Podcast / Collective

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Episode recorded on March 20, 2023.

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*Editing and post-production work for this episode was provided by The Podcast Consultant