NEWS NEWS
IDS Launches First Ever E-Commerce Venture For The International Mining
And Exploration Industry
Toronto, Ontario--
IDS Intelligent Detection Systems (T:ISD) today announced the
launch of Geo-Portal, an online, e-commerce initiative designed
to serve the $300 billion (CDN) international exploration and
mining industry. Geo-Portal was developed using Sun - Netscape
Alliance iPlanet e-commerce software. IDS will be working with
Scotiabank and its subsidiary, e-Scotia.com to provide financial
services and security for transactions.
At a news conference this morning, Dr. Mariusz Rybak, chairman
and CEO, IDS, demonstrated how two Internet portals:
MineOnline.com and GeophysicsOnline.com, will give mining,
geophysics, and exploration professionals access to the services
of 2,500 companies worldwide, over $500 million in data assets,
and more than 2.5 million products. The portals will also
feature full-service, e-commerce capabilities, specifically
designed to meet the business-to-business needs of the industry.
According to Rybak, this industry is a prime candidate for a
virtual marketplace. "This is a highly-fragmented industry,
representing thousands of people scattered all over the
world-some in very remote locations," he says. "Despite these
obvious barriers to communication, they tend to have a high
degree of technical literacy and stand to benefit from a
centralized business and communications resource."
Initially, Geo-Portal will comprise two portals:
GeophysicsOnline.com to serve the mining and oil and gas
exploration industries and MineOnline.com for the mining
production sector. Other portals aimed at the oil and gas
production sector are planned. For a preview of the portals,
contact www.GeophysicsOnline.com and www.MineOnline.com.
IDS has been providing highly sensitive equipment,
instrumentation, survey and analysis products and services to the
international exploration industry for over 50 years. Rybak sees
the launch of an online marketplace as the next logical step for
a company that is rooted in technological innovation: "Our goal
is to be the number one source of information, products and
services for mining and exploration professionals, no matter
where they're located," he says.
The Geo-Portal infrastructure uses Sun - Netscape Alliance
iPlanet application and infrastructure software that provides the
scalability, reliability, and performance necessary to
accommodate Internet-level traffic. These multi-platform,
standards-based infrastructure products enable users to customize
their desktops and deliver personalized e-commerce capabilities
and content to users around the world.
Features include a gateway to the Geo-Portal marketplace,
industry-specific content, business communications services, and
geophysics survey data, as well as popular portal services such
as personalized business news updates, stock quotes, weather and
sports.
"With the launch of GeophysicsOnline and MineOnline, IDS is
setting precedent in the international mining and exploration
industry, offering e-commerce capability and two-way information
exchange to users everywhere," says Todd Finch, President, Sun -
Netscape Alliance Canada. "The Geo-Portal is an excellent
demonstration of the potential of iPlanet software and
solutions."
One-stop shopping for geophysical data and mining joint venture
opportunities
Terry McConnell, vice president, eCommerce Enterprise, IDS,
expects the DataCentre of GeophysicsOnline.com and the Joint
Venture Exchange Forum of MineOnline.com to be two of the
portal's main attractions: "We are providing a one-stop shopping
service for geophysical data and for mining joint venture
opportunities, gathered from every corner of the world," explains
McConnell. "Before an exploration company spends millions of
dollars evaluating a new area, it can search for comparable data
from the region-either to eliminate the need for a survey or to
refocus it."
IDS will act as a broker on these portals, bringing buyers and
sellers together, providing key information about the products,
services, data sets and land options available, and finalizing
transactions with full billing, credit and banking capabilities.
To deliver this, IDS is working with Scotiabank and its
subsidiary, e-Scotia.com to provide a complete range of
electronic payment options and security services.
"Scotiabank is committed to helping Canadians on the Web, and we
are proud to be here today to support another Canadian industry
to get established online," said Drew Brown, Scotiabank's Senior
Vice-President of Corporate and Commercial Electronic Banking.
"Scotiabank will supply the Geo-Portal with the latest in
e-commerce products and services. Through our new subsidiary,
e-Scotia.com, we will also offer this portal the most advanced
Internet security available in the marketplace today for online
transactions," said Brown.
Widespread industry support
Rybak is confident in Geo-Portal's ability to attract and retain
users and customers: "We already have extensive sales, rentals
and leasing inventory committed by future vendors on both sites,"
he says.
"We also intend to serve as a catalyst for joint ventures in the
industry. Postings and credential verification and
intermediation services will be provided online to facilitate
project partnerships around the world."
CAMESE, the Canadian Association of Mining Equipment and Services
for Export, which represents over 250 mining supply companies in
Canada from its offices in Markham, Ontario, is committing its
full support for this venture. Jon Baird, managing director,
CAMESE, is excited about the opportunities that these portals
bring to his members:
"CAMESE welcomes IDS' plan to establish a dominant position in
e-commerce focusing on the mining industry," says Baird. "This
initiative, benefiting exploration and mining companies as well
as their suppliers, will complement Canada's role as one of the
world's leading mining countries."
IDS is a dynamic developer, manufacturer and marketer of
sophisticated detection devices and systems. The company
operates through seven business units: Analytical & Security
products and solutions, IDS Power Control Systems, Scintrex Earth
Science Instrumentation, Survey & Exploration Technology
Services, IEC (Integration, Engineering and Consulting),
ChemiCorp International and Caduceon Inc. Its more than 70
products range from drug and explosive detectors to nuclear
safety control instruments, oil and gas exploration and
developing technologies for industrial process control and
point-of-care health analysis. The IDS Web site is
www.idsdetection.com.
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For more information or to set up interviews:
For IDS media inquiries: For IDS investor inquiries:
Louise Armstrong Rick Conroy
Advance Planning & Communications Lexington Communications
(416) 967-3702 (416) 588-1888
For U.S. inquiries:
Michael Block/Tom Dean
Murdock Captial Partners
(212) 421-2545
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