The data fragmentation challenge

One of the issues Evo seeks to address is data fragmentation.

While today’s geologists and miners are privy to more data than ever, much of this data is distributed across different systems and locations, preventing companies from achieving full visibility and control.

To streamline the process for mining sector workers, Evo centralizes geoscience data from various sources, improving accessibility, collaboration and analysis. By integrating data that is spread across platforms, Evo helps users work with up-to-date information and draw insights from past projects.

Its geospatial search incorporates Cesium technology, and Seequent has introduced two related applications, Driver and BlockSync, to enhance functionality. Graham explained that to achieve this, Evo was designed to be open instead of siloing data and forcing mining companies to also be technology companies.

‘It’s enabling things to move quickly and easily across whatever the device,” he continued. “We saw this problem years ago, but we knew it would take cloud and cloud architecture to break this paradigm, and so what Evo is doing is it’s breaking that paradigm, and it’s approaching the world from the perspective of being open.”

The open platform design enables seamless connectivity and automation, even with competing software, according to Graham. This approach is key as even though mining companies are not tech firms, they often employ skilled professionals who can leverage automation and coding tools.

Additionally, the system allows users to develop custom solutions without relying solely on third-party vendors, marking a significant shift in how technology can be used in the industry.

Critical minerals discovery and jurisdictional risk

With the search for critical minerals deposits intensifying on a global scale, Graham said that technologies like Evo can can be leveraged to analyze data and better pinpoint deposits.

“We know the discovery process and the development process now is just a whole lot more complex,’ he said during the interview. ‘(Deposits are) harder to find, they’re deeper, the grades are lower, the easy stuff is gone. So the way to deal with that is to use the best science you can find.

The Seequent CEO also acknowledged the geopolitical challenges facing mining executives.

“Being a mining CEO and a mining executive right now has got to be one of the most complex tasks in the world,” said Graham, pointing to trade restrictions, tariffs, inflation, permitting challenges, community expectations and unpredictable geopolitical shifts as some of the reasons why the job is difficult.

“As an executive, the one thing you have to do is build a resilient and adaptable organization that can see its way through these kinds of changes,” he said. “Adaptability is the key, and this is what we can bring to a mining company — a flexible, adaptable technology framework that enables you to flex your organization fast, revisit scenarios and recalculate.”

Nuclear energy’s key role in electricity supply

As demand for electricity skyrockets, nuclear power is positioned as a crucial solution due to its reliability and ability to provide continuous, carbon-free energy. Industry leaders stress that without significant investment in nuclear infrastructure and uranium supply chains, the US could struggle to sustainably meet its energy needs.

John Kotek, senior vice president of policy and public affairs at the Nuclear Energy Institute, one of the groups that commissioned the S&P study, emphasized nuclear energy’s potential, stating, “The S&P Demand Growth Report highlights the tremendous growth in electricity demand and the critical gaps that must be filled to meet future needs.’

He added that nuclear power is well positioned to serve power needs from the manufacturing sector, as well as AI and data center demand. Kotek also pointed to growing partnerships between nuclear energy producers and major tech firms like Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META) and Google (NASDAQ:GOOGL), which require reliable around-the-clock power for their AI data centers.

However, uranium supply constraints could present long-term challenges. The nuclear fuel cycle depends heavily on uranium market stability, and geopolitical factors could further complicate sourcing. According to the World Nuclear Association, global uranium production has struggled to keep pace with growing demand.

In 2022, uranium mines supplied only 74 percent of power utilities’ annual needs, with the remainder coming from secondary sources such as stockpiled reserves and recycled materials. The depletion of these reserves over time, combined with increasing nuclear energy adoption worldwide, could stress uranium supply chains.

At the end of 2022, uranium stockpiles stood at approximately:

• 36,000 metric tons in Europe
• 40,000 metric tons in the US
• 132,000 metric tons in China
• 49,000 metric tons in the rest of Asia

China and Russia have taken steps to secure long-term uranium supply, with China investing in mines across Niger, Namibia, Kazakhstan, Uzbekistan and Canada. Russia’s ARMZ Uranium Holding acquired Uranium One in 2013, ensuring a steady uranium flow for its domestic reactors. The US and Europe, by contrast, rely more heavily on market-driven supply chains, making them more vulnerable to price fluctuations and geopolitical instability.

“Facing an unprecedented increase in electricity demand, America is provided with a golden opportunity to modernize our power sector while securing domestic leadership in cutting-edge future technologies,” said Marty Durbin, president of the US Chamber of Commerce’s Global Energy Institute.

“To meet this challenge, we need policies that support both existing nuclear reactors and the development of next-generation nuclear technology,” he further emphasized.

US needs all types of energy to meet electricity demand

Against that backdrop, many policymakers and industry leaders argue that nuclear energy must be prioritized in future energy planning. The S&P report suggests that an additional 10 to 25 gigawatts of nuclear and geothermal capacity will be needed by 2040 to maintain grid reliability, along with increases in natural gas and renewable capacity.

‘We must bring equal urgency to accelerate the development and deployment of new nuclear generation capacity and fossil generation with carbon capture,” said Jason Grumet, CEO of the American Clean Power Association.

This push aligns with policy efforts to streamline nuclear development.

Recent US government initiatives aim to fast track small modular reactor deployment, expand domestic uranium enrichment capabilities and reduce reliance on foreign uranium supplies. However, bringing new nuclear plants online can take a decade or longer, highlighting the need for quick action to ensure supply chain stability.

S&P notes that the US already has the technology to bridge the gap between electricity supply and demand — it sees a need for government, industry and consumers to work together on solutions.

‘It is time to join together behind a true all-of-the-above energy strategy that lowers prices, creates jobs, and supports our national security,’ Grumet concluded.