Scientists compete for $10 million reward to solve mining problem

Scientists from around the world are vying for the $10 million bonus being offered by Barrick Gold Corporation, Toronto, for a solution to increasing silver recovery from its Veladero mine in Argentina.

A year ago, Barrick launched its Unlock the Value program whereby it invited scientists to find a way to extract silver minerals, encapsulated in silica, that resist traditional extraction methods.

A total of 238 preliminary submissions were received and Barrick announces that 16 of those proposals have now been selected as finalists for Part 2 of the search for the solution.

Barrick says the final 16 entries all contain creative approaches to several technologies, including microwave, laser, ultrasonic, electromagnetic, inorganic and organic chemistry, bioleaching and mechanics.

“We’re delighted with the response from the scientific community to this research project,” says Dr. Peter Kondos, Barrick’s Senior Manager of Research and Development. “It’s a positive sign that the evaluation process has identified 16 proposals that technically merit further research and development. There is still no guarantee we will find an economically viable solution, but we are hopeful one or more of these submissions may hold the key to unlock the value.”