Mining innovator unearths seismic interest
The West Australian | Stuart McKinnon
A revolutionary seismic service company founded and backed by Curtin University has piqued the interest of the big end of WA’s mining sector.
Under a confidential deal announced yesterday, Ausdrill, a group of mining executives and other investors will take a majority stake in the mining services firm HiSeis. The company was formed in 2009 to commercialise the work of professors Anton Kepic and Milovan Urosevic.
Until HiSeis, seismic surveying had been restricted to oil and gas exploration because of the properties of hard-rock geology.
However, a team at Curtin overcame the limitations, developing tools and techniques that allowed seismic technology to be applied to minerals exploration.
HiSeis has since grown into a thriving, profitable mining services business with clients across the globe.
Chairman Don Pridmore said the change in shareholder structure would support the company’s international expansion plans and consolidate its position as the leading hard-rock seismic service provider in Australia.
Azure Capital partner John Toll, who represented the buying consortium along with Sternship Advisers, said there had been strong interest in the business from people embedded in the mining industry.
HiSeis’ client list includes Northern Star Resources, Independence Group, Evolution Mining and AngloGold Ashanti.