Finding new sources of critical minerals remains a remarkably costly challenge. In 2023 alone, mining companies globally spent an estimated $12 billion to $13 billion on mineral exploration efforts.
Mining, at its core, is inherently unpredictable and risky. Sophisticated geological models are routinely employed to pinpoint promising sites, yet only about three out of every 1,000 exploration attempts ultimately yield economically viable deposits. After identifying prospective locations, companies must still drill deep underground to retrieve rock core samples, validating their initial geological predictions.
Durin’s founder and CEO Ted Feldmann, raised in a mining family himself, understands firsthand the substantial expense of exploratory drilling. “Approximately 70% of the capital raised by exploration firms goes directly into drilling operations,” Feldmann highlighted, underscoring drilling as prohibitively expensive for many companies.
Drilling is often outsourced to specialty contractors, and these contractors’ overhead is overwhelmingly labor-driven—around 60% of total costs are attributable to workforce expenditures. According to Feldmann, the United States faces a pronounced shortage of qualified drill operators, further exacerbating the costs involved. Standard drilling operations typically involve two or three workers: while some organize and supply pipes and fluids, another handles the mechanical controls and monitors operations closely, interpreting subtle cues from sounds and gauges about the rock being drilled.
Feldmann believes much of this operational routine is ripe for automation. Durin’s mission is precisely to engineer and deploy robotics-powered drilling solutions aimed squarely at lowering exploration expenses and manpower requirements. To jumpstart their efforts, Durin recently secured $3.4 million in a pre-seed funding round led by 8090 Industries, joined by prestigious investors including 1517, Andreessen Horowitz, Bedrock, Champion Hill, Contrary, Day One Ventures, and Lux Capital.
Durin began designing its pilot drilling rig earlier this year. Although the current model, capable of drilling 300-meter-deep holes approximately 2.5 inches wide, still requires manual control, it’s equipped with sophisticated sensors gathering extensive operational data. This data serves as the foundational input for Durin’s future fully automated systems. Additionally, engineers at Durin are crafting innovative mechanisms to automate the loading of drilling pipes as the rig advances deeper into the earth.
The startup is now embarking on its first practical drilling programs. Feldmann anticipates accumulating enough operational data within months to begin training their automation algorithms. Over the next two to three years, Durin intends to produce fully autonomous drilling rigs capable of running untended for prolonged periods.
Yet, Feldmann noted, complete automation won’t entirely eliminate the need for human involvement: site personnel would still be necessary for logistical support, on-site monitoring, and to retrieve the valuable geological core samples extracted throughout the day. “Our primary objective is removing the need for continuous human presence around active equipment,” Feldmann explained.
