Perth shipbuilder Austal has sensationally ‘updated’ its own stockmarket statement and now acknowledges that an inquiry is underway ‘with respect to payment of an outstanding milestone payment/s by Australian Border Force for the Cape Class programme in 2015′. The company had earlier strongly refuted claims made in the media that an investigation into $39 million…
Carbon fibre composite road wheel manufacturer Carbon Revolution continued to grow in the March quarter despite the Covid-19 pandemic. The company announced revenue of $11.8 million, up 26.3 per cent from the previous corresponding quarter, and 45.9 per cent up on the fourth quarter of FY20. The company sold 4,425 road wheels in the quarter,…
Industrial scale additive manufacturing company Titomic will supply tooling carbon fibre parts produced using its Titomic Kinetic Fusion process to UK-based Hockley Pattern & Tool. The companies see the deal as a foundation for future opportunities, as they will work collaboratively to deliver Titomic managing director, Jeff Lang said: “TKF for tooling has been proven…
Shipbuilder Austal has been forced to respond to claims in Channel 9 media that the ‘Australian Border Force is the target of a corruption investigation over allegations that it improperly funnelled $39 million’ to the Perth company. The sensational claims were said to involve payments associated with the construction of patrol boats for the force.…
The Australian Nuclear Science and Technology Organisation has suffered a second incident at the Lucas Heights reactor which has interrupted supply of a critical isotope used in nuclear medicine. The Guardian reported a fresh incident at the reactor had interrupted supply of molybdenum-99. Mo-99 is the parent isotope of Technetium-99m, which is used in hospitals…
The local oil refining sector has shrunk to parlous levels, while national airline Qantas has a need to reduce its carbon emissions. Shane West ponders how both issues could be tackled by a move to refine jet fuel from local crude oil. This is a great opportunity to bolster the Australian refining industry and reduce…
Anti depression drug developer Bionomics completes equity raising Bionomics has successfully completed an over-subscribed equity raising from current shareholders, raising $2.2 million before costs. The raising will accelerate the commercialisation of the company’s drug candidate, BNC210 for the treatment of post traumatic stress disorder. The company is also developing drugs for the treatment of pain,…
Last week @AuManufacturing revealed NSW had bought 2,000 railcars and trams in a decade overseas. Here Ross Sterland, explains how the problem could be turned into a lean manufacturing local opportunity. The year is 2050. Australia’s rail rolling stock manufacturing industry is world-leading. At a federal level, the government’s 30-year plan to reinvigorate the industry…
Rare earths producer Lynas Corp has reported its processing operations and sales are recovering from Covid-19 pandemic levels, and foreshadowed the possibility that governments in Australia and elsewhere may provide assistance to extend its strategic processing operations. The Perth company, which mines rare earths at Mt Weld in Western Australia and operates a controversial processing…
Resources and chemicals group Australian Vanadium has extended its option to purchase land for a value-adding metals processing facility close to the port of Geraldton in Western Australia. The company is developing a vanadium, iron and titanium resource at Gabanintha south of Meekatharra, where it will undertake crushing, milling and benefaction of the magnetite ores.…