Australian national fund invests in mining equipment company
Australia's National Reconstruction Fund Corporation (NFRC) has made its first investment of $40mln in original equipment manufacturers for the mining sector.
The investment is to support the growth of Russell Mineral Equipment's (RME) domestic manufacturing of minerals grinding mill relining technologies at Toowoomba, Queensland.
NRFC Chair Martijn Wilder AM says, 'Our investment in RME represents a first step for the NRFC in backing leading Australian manufacturers. RME’s cutting-edge solutions not only boost productivity but also enhance safety.'
The investment comes via the NRFC's first strategic partnership - $100mln to private equity firm, Resource Capital Fund's Innovation strategy.
This strategy invests in emerging technologies and innovations aimed to redefine the mining industry to help sustainably and efficiently meet the demand for critical minerals and resources required for the global energy transition.
The NRFC investment will be purportedly allocated to other innovative Australian companies that support the resources sector, that meet the NRFC's mandate.
