The main initiative serving the federal government’s 2022 election pledge to transform the nation’s industry, the $15 billion National Reconstruction Fund, is about to start investing in Australian companies, according to industry minister Ed Husic. The NRF Corporation – the independent body administering the fund – “will soon be cutting its first cheques”, according to…
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…
The entity charged with investing $15 billion on behalf of the federal government to diversify and transform the national economy has appointed its inaugural Chief Investment Officer (CIO). In a statement on Friday, the National Reconstruction Fund Corporation announced Dr Mary Manning’s appointment in the role. She will begin next month. She will “oversee investment…
By Peter Roberts Mining company Iluka Resources has awarded long lead procurement packages for key equipment for the company’s planned rare earths refinery at its Eneabba zircon mine in Western Australia – the first refinery for rare earths in Australia for the minerals used in high technology products. The company is procuring the roasting kiln,…
Australia’s only manufacturer of solar panels Tindo Solar has celebrated five years of exporting to Vietnam with another shipment delivered in the first quarter of 2024. Tindo CEO Richard Petterson announced the milestone in an address at the Australia-Vietnam Green Economy Summit, which is led by Asialink and Climateworks Centre and supported by the federal…
Next Science reports positive study for BLASTX Wound care technology developer Next Science has reported a study showing the company’s BLASTX product to be efficacious in the treatment of pressure ulcers when used in conjunction with negative pressure wound therapy (NPWT). BLASTX utilises the company’s NXBIO technology which reduces the impact of biofilm based infections…
By Brent Balinski It is the time of year when many of us are reopening, if we aren’t already open for business. Being open for business can have different meanings for different people, as prime minister Anthony Albanese’s description of the National Reconstruction Fund on Monday morning showed. The independent National Reconstruction Fund Corporation is…
The investment mandate for the National Reconstruction Fund, the federal government’s $15 billion effort to invest in and grow seven sectors within manufacturing, has been published. A joint statement from industry minister Ed Husic and finance minister Katy Gallagher on Thursday says the mandate includes areas of investment across those seven areas, and directs the independent…
BlueScope’s weak US sales hit profit Steelmaker BlueScope has cut expectations for 1H VY24 EBIT to be in the range of $620 to $670 million, down from previous guidance of $700 to $770 million. The main driver of the change is the company’s US North Star operation, which is now expected to be half the…
The federal government has begun the hunt for the critical-to-manufacturing position of Chief Executive Officer of the new National Reconstruction Fund. This is a pivotal position as the government will invest $15 billion through the NRF to boost manufacturing across seven priority sectors. The seven key priority funding areas are: · renewables and low emissions…
