QMASTOR Limited (ASX: QML) - the leading supplier of bulk materials management information systems - announced today that it has been awarded a Federal Government AusIndustry Commercial Ready grant for the further development and commercialisation of QMASTOR Limited’s bulk commodity technology.
QMASTOR was awarded a $404,862 Commercial Ready grant to develop a decision support system for use in bulk material handling stockyards for the geospatial tracking and visualisation of parcels of bulk material such as coal, iron ore, and bauxite.
The Commercial Ready grant program is a competitive merit-based program supporting innovation and commercialisation of Australian technology. QMASTOR Managing Director Trent Bagnall said “The grant program looks to support innovative technology with a high domestic and export commercial potential. The awarding of the grant confirms the growing status of QMASTOR’s technology in the market place and the company’s ability to deliver innovative solutions to the global bulk commodity industries.”
QMASTOR, the first company to receive an Australian Government Commercial Ready grant in the Hunter Valley region, was congratulated today on their achievement by Bob Baldwin - Parliamentary Secretary to the Minister for Industry, Tourism and Resources at QMASTOR’s Newcastle head office and software development centre.
Mr Baldwin, representing the Minister for Industry, Tourism and Resources: Ian Macfarlane, presented company representatives with an AusIndustry innovation certificate in recognition of their contribution to the mining industry.
Mr Baldwin said a successful outcome will provide mining companies with the ability to accurately produce a consignment of consistent grade material to their customers.
“Individual stockpiles can contain variable material with differing grades and because of this, it is easy to produce an out of specification consignment which can prove costly,” Mr Baldwin said.
“Out of specification consignments attract penalties ranging from thousands to millions of dollars per shipment and as determined in the sale contract, can also be rejected.
“While the system will be aimed at mining and mineral commodity industries it will also target ports and logistic companies.
“If successful, it will have national benefits including improving competitiveness with overseas producers due to increased consistency in the material handling by local producers and within the delivery chain.”
About QMASTOR Limited:
QMASTOR Limited (ASX: QML) provides a suite of bulk material management systems that allow mining, port, and power generation companies to maximise their profitability through the efficient use of their resources. QMASTOR systems are integrated into the day-to-day running of bulk material businesses, managing transactions throughout the operations, logistics, commercial and marketing functions.
QMASTOR’s head office is located in Newcastle, NSW employing over 20 staff. QMASTOR also has offices in Brisbane and Wollongong and representatives in South Africa, Europe and China.
QMASTOR has a history of developing innovative mining technology including its other products and services that include:
- Pit to Port, an integrated bulk material management system that facilitates synchronisation across mining supply chains.
- Systems integration between mining , laboratories, ports and transport information systems
- Mining and stockpile surveying using total station, GPS and Laser surveying technologies.
For further information contact:
Mr. Trent Bagnall - Managing Director
Ph : +61 2 4908 2222
Email : tbagnall@qmastor.com
Web: www.qmastor.com