Cannabis production facility gets major projects status

The federal government has granted major projects status to a massive project near Toowoomba in Queensland to grow cannabis for medicinal purposes. The $450 million project being developed by Asterion Australia would establish 40 hectares of fully automated glasshouses in three stages. Industry minister, Karen Andrews said the project could ultimately support 1,000 jobs, and…

Li-ion battery recycling boost from investment

Lithium metal technology company Lithium Australia (ASX: LIT) is to invest in Melbourne li-ion battery recycling business, Envirostream, with plans to expand its capacity. The company has invested $600,000 to take 18.9 per cent of Envirostream which operates Australia’s only plant that shreds used batteries. The process produces a powder containing the critical metal components…

New space strategy to guide industry development

Canberra has launched a comprehensive space strategy outlining national priorities and regulatory reform needed create a viable local industry sector. The 10-year Australian Civil Space Strategy was launched as part of the 2019 federal budget. The head of the Australian Space Agency, Megan Clarke said the strategy laid the foundations for a local industry including…

Drought, floods and plant closure hits Incitec Pivot

Chemicals, fertiliser and explosives manufacturer, Incitec Pivot (ASX: IPL) has reported big hits to its profits from a number of weather-related events and the closure of its Portland, Victoria super phosphate factory. The closure costs, along with drought in eastern Australia and cyclonic floods in the Townsville region, were outlined in a report to the…

Myriota demonstrates IoT for the battlefield

Internet of things (IoT) nanosatellite company, Myriota has demonstrated its low cost connectivity at an international military science event. The Adelaide company took part in the Contested Urban Environment 2018 (CUE18) challenge in Montreal along with the Australian government’s Defence Science and Technology (DST) group. The event, involving 250 scientists from Canada, New Zealand, the…

From tyranny of distance to centre of the global economy

For a century Australian businesses bemoaned the tyranny of distance that left us with poor prospects far from the world’s biggest markets. Today’s chart, from Visual Capitalist, brings home with a vengeance the newfound power of our location in the thick of the world’s fastest growing economies. In answers any questions you may have about…

Audit office raises doubts over maintenance of Navy ships

The Australian National Audit Office (ANAO) has delivered scathing criticism of Defence’s sustainment programme for some of the country’s most important naval assets. The office’s report found sustainment of the Royal Australian Navy’s fleet of eight ANZAC class frigates was not meeting most of its key performance indicators. The ANZACs service life has been extended…