Ausdrill offloads Diamond business, invests in mining services company

Ausdrill has completed a deal to sell its Diamond Communications business to Powerlines Plus after a 19-year association.

The mining services company explained that circumstances have allowed the sale of the business to a “strong industry player with markets closely aligned to Diamond”. The sale is also further execution of Ausdrill’s recent strategy to focus on its core markets.

Powerlines is a family-owned power infrastructure, construction and maintenance contractor servicing the mining sector and state power organisations.

Diamond, which will retain all of its employees following the transaction, will continue to operate from its Welshpool base in Perth.

In a separate deal, Ausdrill, as part of a group of senior industry executives and other investors, plans to buy a majority share in mining services company, HiSeis, an end-to-end seismic hard rock exploration service provider.

HiSeis, which has a client list including Northern Star Resources, Independence Group and Evolution Mining, was established in 2009 to commercialise the work of Curtin University professors Anton Kepic and Milovan Urosevic.

The Curtin team developed tools and techniques that have enabled the application of seismic technology to minerals exploration.

Curtin will retain a minority position in HiSeis and continue to provide research support for the company.

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