MagnaTerra raises AUD $11 million to expand landmine detection tech

An Australian company has developed a handheld landmine detector capable of identifying both TNT and RDX, the primary explosives found in most of the estimated 100 million landmines buried worldwide.

The firm, MagnaTerra Technologies, was established through the merger of mining technology business NextOre and explosives detection startup MRead, both of which are spinouts from CSIRO. The merger has been supported by an AUD $11 million capital raise to accelerate the production and global distribution of its detection devices.

Magnetic resonance technology

MagnaTerra is utilising Magnetic Resonance (MR) sensing technology pioneered by CSIRO to detect minerals, explosives and narcotics at a molecular level. The company aims to enhance processes in humanitarian demining, defence, critical minerals extraction and border security, responding to growing worldwide demand for more effective detection systems.

The capital raise will contribute to further expanding the company's detection capabilities, including for explosives, bulk sorting of critical minerals, and iron ore analyses.

The investment round saw participation from RFC Ambrian Funds Management's QCM Fund, Shaw and Partners' wealth management division, and individual investors.

The shareholder group also includes CSIRO, engineering firm Worley, electronics developer Codan, and industrial manufacturer Gebr. Pfeiffer SE. RFC Ambrian has been involved as an investor in both NextOre and MRead since their inception.

"MagnaTerra is a sovereign tech platform with real revenue, high-impact IP, and clear global applications," said Rob Adamson, Chair of RFC Ambrian and now also Chair of MagnaTerra. "The company takes outstanding, world-leading detection technology developed by our national science agency, CSIRO, that has significant potential to improve the economics and reduce the environmental impact of producing copper and other critical minerals as well as important applications in the detection of explosives for humanitarian demining, border security and defence."

Operational scope

MagnaTerra will retain the NextOre and MRead brands, focusing on minerals for NextOre and security, defence, and humanitarian applications for MRead. NextOre's MR sensing systems are already in operational use in Chile, Zambia, and the Philippines, with clients including Lundin Mining, First Quantum, and Newcrest.

Their technology supports copper miners by improving efficiency and reducing both resource and energy use through rapid ore scanning and waste rejection, and is currently being adapted for lithium and iron ore, with additional plans for cobalt, antimony and bismuth.

Chris Beal, CEO of NextOre, explained the potential of the technology:

"By enabling 100% ore scanning in real time, our technology makes mines more productive and sustainable. MagnaTerra is a compelling opportunity for investors looking for scalable solutions at the intersection of deep tech, sustainability, and security."

Demining technology

MRead's handheld detector, developed with CSIRO and trialled in Angola with The HALO Trust, uses MR sensing to directly detect RDX, one of the main chemical compounds in global landmines.

This method reduces false positives, which are common with metal detectors that often pick up non-explosive debris such as nails and shrapnel, and can decrease mine clearance times by up to 30%.

MRead and MagnaTerra CEO John Shanahan said:

"Landmines are one of the great unresolved global challenges. Our technology promises to save lives and restore land to communities faster and more safely."

The same MR technology is being further developed for detecting narcotics and explosives in cargo without opening packages or using radiation. Shanahan described the merger as:

"This merger is a consolidation of world-leading science, engineering and commercial momentum into a single vehicle with global reach."

Leadership and future

The MagnaTerra board features MRead co-founder and former CSIRO Research Director Nick Cutmore, NextOre Non-Executive Director Kim Cavallaro, former Codan CTO Peter Charlesworth and current Codan EGM Daniel Hutchinson.

The company's combined platform unifies deep scientific expertise with commercial sensing products, aiming to address demands for efficient and safe detection in both the mining industry and humanitarian sectors globally.