Granite and Veracio Aim to Revolutionize Mining Industry

Rhea-AI Summary

Granite (GVA) and Veracio Partner to Transform Drill Hole Data Analytics

Positive

• Strategic partnership to enhance drill hole data analysis
• Leveraging technology for improved productivity and client support
• Veracio's growing fleet of technologies to ensure precise and efficient drilling

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that its wholly-owned subsidiary International Directional Services (IDS) and Veracio, a mining technology company, have entered into a partnership aimed at transforming drill hole data analytics and elevating productivity for Granite’s clients.

The collaboration between IDS and Veracio marks a significant step toward leveraging technology to enhance the mining process. By combining IDS’s drill hole geological data collection with Veracio's minerals drilling technology solutions, the partnership aims to improve the way drill hole data is collected, analyzed, and utilized, ultimately providing support to IDS’s and Granite’s clients. This collaboration reflects the commitment of both companies to push the boundaries of what is possible in the drilling and mining sectors.

"We are excited to embark on this strategic partnership with Veracio. By combining our data collection expertise with Veracio’s instrument technology, we aim to redefine how drill hole data is utilized in our industry,” said Jason Smith, IDS General Manager. “This collaboration represents a significant step forward for IDS and our commitment to delivering excellence to our clients."

Key Objectives of the Partnership:

• Enhanced Drill Hole Data Analysis: Implementing technology to improve the accuracy and quality of drill hole data analysis, providing valuable insights for mining projects.
• Increased Productivity: Leveraging Veracio’s growing fleet of technologies, including TruGyro, and TruSub technology ensures that drilling is precise and efficient leading to better resource definition, safety and lower risks of operational errors, at lower cost.
• Client Support and Satisfaction: The partnership aims to elevate the level of support and satisfaction for IDS’s clients by delivering data-driven insights and solutions.

“Our collaboration further strengthens Veracio’s position in the US market and reinforces our commitment to advancing the mining industry by offering cutting-edge solutions,” states Veracio’s Chief Executive Officer, JT Clark. “Together with IDS, we are committed to redefining industry standards, empowering precision and integrity with every survey, and delivering unparalleled solutions for the mining industry.”

For more information about Veracio, please visit www.veracio.com.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

About Veracio

Veracio offers mining clients a range of solutions that improve, automate, and digitally transform their orebody sciences in exploration, resource definition and production. Championing a modern approach through a diverse product portfolio Veracio fuses science and technology together with digital accessibility by using advanced scanning, sensing with strong data governance and the deployment of AI to accelerate real-time decision making and significantly improve efficiency, profitability, and sustainability across the value chain.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231206283223/en/

Granite Contacts

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is the partnership between Granite and Veracio about?

The partnership aims to transform drill hole data analytics and elevate productivity for Granite’s clients.

What are the key objectives of the partnership?

The key objectives include enhanced drill hole data analysis, increased productivity, and elevated client support and satisfaction.

How does the partnership aim to enhance drill hole data analysis?

By implementing technology to improve the accuracy and quality of drill hole data analysis, providing valuable insights for mining projects.

What technologies from Veracio are being leveraged in the partnership?

Veracio's growing fleet of technologies, including TruGyro, and TruSub technology, ensures precise and efficient drilling, leading to better resource definition, safety, and lower risks of operational errors, at lower cost.