The Elements of Innovation Discovered
The Elements of Innovation Discovered
Mining tech company boosts media division with three publications Metal Tech News - October 26, 2023
With the acquisition of The Northern Miner Group, EarthLabs will create a global mining news and social media division.
Taking a major step toward its goal of building a mining media powerhouse, EarthLabs Inc. has cut a deal to acquire The Northern Miner Group, which publishes the Northern Miner, Canadian Mining Journal, and MINING.COM.
"This acquisition aligns perfectly with our strategic focus on innovation in the disruptive media landscape," said EarthLabs Chief Business Officer Cejay Kim. "EarthLabs will now own one of the largest social media platforms and news media publications focused on resources."
Earthlabs got its start as GoldSpot Discoveries Corp., a Canada-based technology company founded to leverage AI and machine learning to increase the efficiency and success rate of mineral exploration.
Since going public in 2019, the company has increasingly expanded its business through acquisitions of mineral-related technology and media companies. This includes the 2021 purchase of CEO.CA, a resource investment social network with deep roots in the mining industry, for C$11 million (US$8 million).
CEO.CA formed the foundation of the company's media division and marked the transition to EarthLabs.
"The acquisition of CEO.CA, and the establishment of a technology and media division, is strategic to that vision and provides significant economic potential to our clients and shareholders," EarthLabs Executive Chairman and CEO Denis Laviolette said at the time.
Following its purchase of CEO.CA, Earthlabs sold its mineral exploration technology division, which included original machine learning powered mineral exploration technology and several other related businesses to ALS Ltd.
The company best known for its mineral assaying services formed ALS GoldSpot Discoveries as a subsidiary to house the mineral exploration technology portfolio acquired from EarthLabs for C$24 million (US$17.4 million).
With this move, EarthLabs transformed into a mining investment and technology company focused on leveraging the metals and mining sector through investments, royalties, and a full suite of data-driven media SaaS (software as a service) tools and services.
The purchase of TMN Group is a major boost to EarthLabs' media division.
"The TNM Group assets are highly complimentary to our own, with mining news and media products that will now benefit from greater distribution including millions of valued users on CEO.CA," said Laviolette.
The TMN Group portfolio includes:
• The Northern Miner, a monthly newspaper and digital resource that has been around since 1915.
• Canadian Mining Journal, a mining news magazine established in 1882.
• MINING.COM, an online source of global mining news since 2011.
EarthLabs plans to enhance these publications with its in-house AI, data visualization, mapping services, and real-time analytics expertise.
"Our aim is to bolster the distribution of these well-respected brands without compromising the quality, thorough, and unbiased journalism that readers value," said Kim.
This includes keeping on current staff, including The Northern Mining Group President Anthony Vaccaro.
Under a definitive agreement with Glacier Media Inc., EarthLabs will buy TMN Group and its publications for C$4 million (US$2.9 million). The acquisition is slated to close by Dec. 1.
With more than 16 years of covering mining, Shane is renowned for his insights and and in-depth analysis of mining, mineral exploration and technology metals.
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