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Highlights
NextOre and MRead merge to launch MagnaTerra Technologies
The new company will focus on mining, humanitarian, and security applications
MagnaTerra to commercialise magnetic resonance sensing developed by CSIRO
Privately held NextOre and MRead, a joint venture between CSIRO and RFC Ambrian, have merged to form MagnaTerra Technologies. The launch follows a recently completed capital raise and introduces a new entrant in the deep tech and critical minerals sector under the All Ordinaries index focus. MagnaTerra will serve multiple global sectors through the commercialisation of advanced magnetic resonance sensing.
The technology will be used in a range of applications, including humanitarian demining, border security, and mineral processing, aiming to provide safer and more efficient solutions.
Executive Leadership to Steer Strategic Global Expansion
John Shanahan has been appointed CEO of MagnaTerra, bringing experience from his prior role as head of MRead. He highlighted that landmine detection remains a major global issue, with the company’s innovation aiming to expedite land restoration while improving safety.
Shanahan described the merger as a consolidation of scientific and commercial resources into a single platform with global potential. MagnaTerra intends to capitalise on this foundation to pursue applications in defence and resource recovery.
Real-Time Mineral Processing for Greater Sustainability
MagnaTerra’s suite of tools includes solutions that enhance mining sustainability. The integration of real-time ore scanning technology enables copper miners to separate waste material at the source. This process supports improved resource efficiency and minimises environmental impacts related to energy, water, and chemical use.
NextOre has existing deployments with international mining companies including Lundin Mining (TSX:LUN) and First Quantum (TSX:FM), offering an operational foundation from which MagnaTerra can build further capability.
Security and Cargo Applications Extend Beyond Mining
Beyond minerals, MagnaTerra’s technology is being applied in border control and freight security. The system is designed to detect threats like explosives and narcotics at the molecular level, reducing human exposure to harmful materials and enhancing screening speed.
These features are anticipated to support efforts in defence logistics, airport security, and customs inspection, where accuracy and non-intrusive detection are key.
Capital and Collaboration from Strategic Industry Partners
Funding for MagnaTerra was led by RFC Ambrian’s QCM Fund, with participation from Shaw and Partners and other private contributors. RFC Ambrian Chair Rob Adamson described MagnaTerra as a sovereign technology platform with tangible global relevance, reflecting the fund’s direction toward innovation with real-world applications.
