Crisis in Victorian manufacturing: Opposition calls for action amid rising insolvencies

Victoria recorded the highest number of manufacturing insolvencies in Australia in 2024, according to new analysis. This rise in business closures highlights ongoing struggles within the state’s manufacturing sector, exacerbated by high taxes, rising energy costs and extensive regulatory burdens. ASIC data reveals that during the term of the Albanese government, 415 manufacturing firms in…

A few thoughts on innovation from Russell Mineral Equipment’s founder

This week Russell Mineral Equipment was announced as the National Reconstruction Fund Corporation’s first investee, with the NRFC taking a $40 million stake in the company alongside US-based private equity firm Resource Capital Funds. Earlier this year, RME was a gold award winner in @AuManufacturing‘s Australia’s 50 Most Innovative Manufacturers campaign for 2024. Below is…

NRF makes first investment – $40m in Russell Mineral Equipment

The federal government’s $15 billion National Reconstruction Fund has made its first investment – $40 million will be invested into innovative mineral processing equipment manufacturer Russell Mineral Equipment. The funds, which is alongside private sector investment, will ensure a pioneering Toowoomba manufacturer stays in Australia and boosts production, according to a statement. The investment from…

National Reconstruction Fund Corporation seeks new CEO after Power departs due to ill health

The National Reconstruction Fund Corporation announced the departure of its founding CEO Ivan Power before the weekend, citing health problems. In a brief statement, the NRFC said Power had suffered several health challenges since he began his role this year and has been on extended leave since late-May. NRFC chair Martijn Wilder thanked Power, adding…

Green hydrogen, iron and steel could flow to Germany – UNSW study

On Friday Germany and Australia pledged $660 million to help create a green hydrogen export supply chain to Europe. At the same time UNSW Sydney researchers have released a first report exploring the feasibility of collaboration on exporting hydrogen and green metals – here is the executive summary of their study. The global steel industry…