InnovExplo

What InnovExplo does

InnovExplo is a Quebec-based mining consulting firm founded in 2003 by Alain Carrier and Carl Pelletier, operating from Val-d'Or, Longueuil, and Quebec City, with additional coverage in Sudbury, Ontario. The firm provides multidisciplinary professional services across the mining lifecycle — exploration geology, 3D geological modeling, mineral resource and reserve estimation, mine design and optimization (open-pit and underground), geomechanical analysis, and the production of NI 43-101-compliant technical reports required for Canadian securities disclosure. A complementary network of partners extends the offering into metallurgy, environmental permitting, hydrogeology, mechanical/electrical/infrastructure engineering, mining taxation, and social acceptability.

The business model is a project-based professional services firm selling mandates to mining companies across the exploration-development-operations value chain. The firm has completed over 500 mandates for 175 mining companies since 2003, with named engagements spanning major gold projects (IAMGOLD, Yamana, Osisko Development, Wallbridge, Probe Gold), critical-minerals projects (Sayona lithium, Lomiko graphite, Electra Battery cobalt-copper, Critical Elements Lithium), and base-metals clients. Pricing is quote-based and tied to project scope and complexity.

In May 2024, Norda Stelo completed its acquisition of InnovExplo, integrating the firm into a 900+-expert engineering platform with CDPQ and BMO financing, while retaining the founding leadership team. Post-acquisition, InnovExplo operates as the mining-engineering arm of Norda Stelo, supporting the parent's strategy to become a Canadian leader in integrated mining and critical-minerals services from site to port.

Name

InnovExplo

Legal name

InnovExplo

Website

https://innovexplo.com

Company type

Private

Founded year

2003

Operating status

Acquired

Headcount range

11–50 employees

Short description

InnovExplo is a Quebec-based mining consulting firm that delivers geology, mineral resource estimation, mine design, and NI 43-101-compliant technical reporting to exploration, development, and operating mining companies across Canada and internationally.

Ownership category

akta.pro rank

Product category

Mining Consulting Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (2131)

akta.pro primary industry

Health, Safety & Risk Engineering (Process Safety, HAZOP/HAZID, Emergency Systems) (IMAKAOAO)

akta.pro secondary industry

Mine Site Engineering & Detailed Design (Civil/Structural/Mechanical/E&I) (IMAKAOAA)

Keywords

• Mining consulting services
• Geological exploration services
• Mining engineering services
• NI 43-101 technical reports
• Mineral resource estimation

Headquarters

HQ city

Val-d'or

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Geology and Exploration Services: Geoscientific compilations, 3D geological modeling, exploration targeting, data validation and synthesis, historical data digitization, and litho-structural interpretation services
2. NI 43-101 Technical Reports: Mineral resource estimates, preliminary economic assessments, pre-feasibility and feasibility studies, mineral property valuations (CIMVal), and independent technical reports compliant with Canadian standard NI 43-101
3. Mining Engineering Services: Technical studies, mine optimization, mine design (open-pit and underground), ventilation studies, geotechnical surveys, and mining audits
4. Complementary Services: Environmental permitting, metallurgy, hydrogeology, mechanical/electrical/infrastructure engineering, mining taxation, social acceptability consulting, and sustainable development services

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

InnovExplo provides multidisciplinary consulting services to the mining industry, spanning the full mining project lifecycle from early-stage geological exploration and mineral resource estimation through to mine design, optimization, and economic studies. Core offerings include 3D geological modeling, NI 43-101-compliant technical reports, feasibility and pre-feasibility studies, open-pit and underground mine design, ventilation and geomechanical analyses, and complementary services via a partner network covering metallurgy, environmental compliance, hydrogeology, and infrastructure engineering.

Product overview

InnovExplo offers an integrated suite of professional consulting services for mining projects at all stages, from early exploration to mine optimization. The company's portfolio consists of four interconnected service pillars: (1) Geology, Exploration and Mineral Resources Services encompassing geoscientific compilation, 3D geological modeling, and NI 43-101-compliant resource estimation; (2) Mining Engineering and Mineral Reserves Services covering mine design, planning, and optimization for both open-pit and underground operations; (3) Economic Studies and Technical Reports (NI 43-101) providing preliminary economic assessments, pre-feasibility and feasibility studies; and (4) Resources and NI 43-101-Compliant Technical Reports for mineral resource/reserve declarations. A fifth pillar of Additional/Complementary Services rounds out the offering through a partner network covering metallurgy, environmental compliance, hydrogeology, and infrastructure engineering. The company operates as a professional services firm rather than a software product company.

Differentiator

Problem solved

Functional benefit

Products and services

• Geology, Exploration and Mineral Resources Services Comprehensive geological services spanning exploration to mining geology and mineral resource evaluation for mining companies. Includes geoscientific compilations, 3D geological modeling combining lithological, structural, alteration, mineralization, geochemistry, and geophysics data, NI 43-101-compliant mineral resource estimates and independent expert reports, and exploration target generation through knowledge-driven or AI-based 3D prospectivity modeling.
• Mining Engineering and Mineral Reserves Services Mining engineering services for underground and open-pit mines covering technical and operational needs for specific issues, recurring problems, or entire projects. Services include mine design, planning and optimization, ventilation studies, rock mechanics analyses, pit slope studies, underground opening sizing, geotechnical surveys, and NI 43-101-compliant expert reports for mineral reserves.
• Economic Studies and Technical Reports (NI 43-101) Production of independent expert reports compliant with Canadian standard NI 43-101 across multiple study levels. Includes preliminary economic assessments (PEA), pre-feasibility and feasibility studies on mineral resources or reserves, mineral property valuations under the CIMVal standard, economic analyses, and technical reports supporting investor disclosure and regulatory approval.
• Resources and NI 43-101-Compliant Technical Reports Regular production of NI 43-101-compliant mineral resource and mineral reserve reports at various project stages. Includes independent expert opinions for mineral property valuations, mineral resource estimates, mineral reserve estimates, and audits of mineral projects from exploration through development.
• Additional/Complementary Services A network of complementary expert services accessed through InnovExplo's partner network. Covers environmental permitting, metallurgy, hydrogeology, mechanical/electrical/infrastructure engineering, mining taxation, social acceptability support, and assistance with UL ECOLOGO certification for sustainable mineral exploration, enabling InnovExplo to deliver integrated solutions across the mining project lifecycle.

Quantifiable outcome

• 500+ mandates completed for 175 mining companies over 18 years
• +2 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and strategic.

• Norda StelocoreStrategic or Co-development Partner · 1 March 2024Acquisition completed in May 2024. Norda Stelo, an independent engineering consulting firm specializing in integrated projects, acquired InnovExplo to strengthen its position in mining engineering and critical minerals. InnovExplo's specialized geological and mining engineering knowledge complements Norda Stelo's impact engineering model, providing comprehensive services across the entire mining lifecycle. The integration enhances capabilities in ESG, sustainability, and asset management while preserving InnovExplo's existing leadership team.
• SNC-LavalinstrategicImplementation/ SI/ Consulting Partner · 4 September 2022SNC-Lavalin worked with InnovExplo on the Moblan Project pre-feasibility and feasibility studies. As a major engineering and construction group, they provided specialized engineering expertise complementing InnovExplo's mining engineering services.
• PrimerostrategicImplementation/ SI/ Consulting Partner · 4 September 2022Primero was engaged by InnovExplo for the Moblan Project pre-feasibility and feasibility studies, providing additional engineering expertise for the lithium project in Eeyou Istchee James Bay.
• Journeaux Assoc.strategicImplementation/ SI/ Consulting Partner · 4 September 2022Journeaux Assoc. partnered with InnovExplo on the Moblan Project to deliver specialized consulting services for the pre-feasibility and feasibility studies.
• SOQUEMstrategicStrategic or Co-development Partner · 4 September 2022SOQUEM, a subsidiary of Investissement Québec, holds a 40% stake in the Moblan Project. Their mission is to foster exploration, discovery, and development of mining properties in Quebec, and they partnered with InnovExplo as the expert consultant for the project.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• GHD: Global engineering, architecture, and environmental services firm with a Canadian mining practice that delivers feasibility, geotechnical, and environmental services to mining clients. Larger and broader in scope than InnovExplo but competes for the same mining-engineering mandates.
• BBA: Canadian engineering firm with a mining practice covering mineral processing, mine infrastructure, and electrical/mechanical engineering. Competes in the Quebec mining-engineering market for projects where InnovExplo provides mine-design and EPC-adjacent services.
• Stantec: Large Canadian-headquartered engineering consultancy with a mining practice covering mine planning, environmental compliance, and resource-sector infrastructure. Overlaps with InnovExplo's complementary environmental and engineering services.
• WSP Global: Global professional services firm with a substantial Canadian mining and earth-sciences practice (incorporating Golder and Wood E&IS heritage). Competes for mine design, geotechnical, environmental, and resource-estimation mandates; materially larger scale than InnovExplo.

Direct peers

• SRK Consulting: Global mining-focused consultancy providing geological modelling, resource estimation, mine design, and NI 43-101-equivalent technical reporting worldwide. Closest direct competitor in scope of services to InnovExplo, with broader geographic footprint.
• Ausenco: Engineering and project management firm with significant mining and minerals processing practice, delivering feasibility studies, EPCM, and consulting services to mining clients. Comparable in the mine engineering and feasibility-study segment where InnovExplo competes.
• CSA Global (now part of ERM): International mining consultancy focused on geology, resource estimation, mine planning, and mineral economics. Directly comparable to InnovExplo on resource modelling and feasibility study mandates, including for critical minerals projects.
• Norda Stelo: Acquirer of InnovExplo in May 2024 and a Canadian engineering consultancy with 900+ experts spanning mining, infrastructure, energy, and asset management. The same mining-engineering and EPCM services overlap that defines the parent's strategic rationale is the core peer comparison.
• SLR Consulting (incl. Snowden): Global sustainability and mining consultancy, with the acquired Snowden Optiro business providing resource estimation, geological consulting, and NI 43-101-style reporting. Direct peer in mining geoscience consulting.

Emerging players

• Piteau Associates: Specialist hydrogeology, geotechnical, and mining engineering consultancy. Comparable niche specialization profile to InnovExplo in mine water management and rock mechanics support, often partnering on feasibility-stage mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCPZ5x46Y084ngoDi7t0-Q-A
• Facebookfacebook.com/InnovExplo
• LinkedInlinkedin.com/company/innovexplo
• Xx.com/innovexplo

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InnovExplo