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The Macquarie Radio Network is looking at making an "Australian Mining Radio Network" with specialised programming for rural areas.
The Australian reports Macquarie Radio is looking at the move to allow advertisers to target cashed up workers in the mining sector.
Macquarie Radio chairman Russell Tate said the idea was an "advertising sales proposition".
According to The Australian the move has also sparked speculation about Gina Rinehart’s media ambitions.
Rinehart is a major shareholder in Fairfax Media and Network Ten, and has previously visited stations in Macquarie’s portfolio that broadcast to Queensland mining regions.
Macquarie is looking at joining with WAFM for the new service, which will allow it to broadcast in WA’s mining regions, including Port Hedland and Broome.
Macquarie Radio Network sales director Mark Noakes told The Australian the mining radio service would aim at a "lucrative audience" for advertisers.
"Our proposition is to reach Australia’s most cashed-up ears," he said.