Gold Fields offers $10k for new algorithm to classify gold ore

Gold Fields offers $10k for new algorithm to classify gold ore

The goal is to develop an image algorithm that can classify material in a gold mine as high, medium or low grade ore, or waste.

South African miner Gold Fields (NYSE:GFI) (JSE:GFI) is looking for a math-savvy individual able to develop an new image processing algorithm to classify gold ore.

The winner of the so-called Gold Fields Ore-X innovation challenge will get A$10,000 (a bit over US$7,100), while the second and third places will receive A$1,500 and A$500.

The goal is to develop an image algorithm that can classify material in a gold mine as high, medium or low grade ore, or waste.

There are two parts to the competition: processing images to find features, and then estimating the overall grade (high, medium, low or waste) of each image.

Entries can be submitted beginning today until September 25.

At the end of the competition Gold Fields and partner Glass Terra will ask the top five ranked submissions to submit their algorithm for full assessment.

The winners will be announced Oct. 9, 2015.

For more information visit the Ore-X challenge webpage.