Ausdrill Ltd has completed a transaction to sell its Diamond Communications Pty Ltd business to private group Powerlines Plus Pty Ltd (PLP). “After a 19- year association, circumstances have allowed the sale of the business to a strong industry player with markets closely aligned to Diamond and is a further execution on Ausdrill’s recent strategy to focus on our own core markets.

PLP is a family owned power infrastructure, construction and maintenance contractor servicing the mining sector and state power organisations.” Diamond will continue operating from its Welshpool base and all current employees will be retained as part of the transaction. Ausdrill Managing Director, Ron Sayers, said: “I would like to take this opportunity to thank all of our Diamond employees for their loyalty and service over many years. We wish them and PLP every success for the future.”

In a separate transaction, the company, as part of a group of senior industry executives and other professional investors, has together agreed to purchase the majority of shares in mining services company HiSeis Pty Ltd, an end to end seismic hard rock exploration service provider. HiSeis provides end-to-end high-definition seismic services focusing on hard rock exploration and in particular exploration around existing mine sites and mine life planning. HiSeis was established in 2009 to commercialise the work of Professors Anton Kepic and Milovan Urosevic. The Curtin team developed tools and techniques that have enabled the application of seismic technology to minerals exploration. Commonly used in oil and gas exploration, the technique was limited in mining due to properties of the hard rock geology commonly associated with minerals. The research team was able to overcome these limitations and HiSeis has grown into a thriving mining service operation with clients around the globe. Curtin will retain a minority position in the company and continue to provide research support to the company. The HiSeis client list includes Northern Star, Independence Group, Evolution Mining, Lundin Mining, Anglo Gold Ashanti and more. The company currently operates in Australia, Europe, USA and Africa.

“The disposal of Diamond and the investment in HiSeis are immaterial to the Group but aligned with Ausdrill’s strategy to focus on its core markets.”