National Reconstruction Fund secures regional manufacturing in mining technology
A $40 million NRFC investment will keep Queensland-based RME producing advanced mining equipment onshore.
The National Reconstruction Fund Corporation (NRFC) has announced a $40 million investment to support the expansion of Russell Mineral Equipment (RME), a Toowoomba manufacturer specialising in precision technologies for the mining and resources sector across the globe.
Established in 1985, RME has revolutionised mill relining—a critical maintenance task in mineral processing. Its technologies improve safety and efficiency in handling minerals such as copper, gold, and nickel, which are essential for renewable energy technologies. With operations in 64 countries and over 450 employees, RME is a key player in the global mining equipment market and employs hundreds of workers in regional Queensland.
The funding will help RME maintain Australian ownership and manufacturing operations, securing skilled jobs in the area while increasing production capacity. The investment forms part of a larger $100 million co-investment partnership between the NRFC and Resource Capital Funds, aimed at supporting companies that improve the safety, environmental impact, and efficiency of mining operations.
Minister for Industry and Science, Ed Husic, stressed the importance of this project in developing Australia’s industrial and manufacturing capabilities.
“The NRFC has stumped up vital capital to ensure RME stays in Toowoomba in Aussie hands employing hundreds of Queensland workers,” Husic said. “Importantly too the NRFC is acting as a magnet for private investors to increase growth capital available for Australian manufacturing.”
The NRFC aims to attract private investment into high-value Australian manufacturing across seven priority areas, including resources, renewables, and transport. Chief Investment Officer Dr Mary Manning stated the Corporation’s commitment to leveraging private capital for industry growth.
“The NRFC is committed to crowding-in private capital to diversify and transform Australian industry. Our partnership with Resource Capital Funds underscores our strategic focus to work with private capital with sector expertise to unlock new opportunities for growth in high-value and high-tech Australian manufacturing,” Dr Manning said.
To learn more about RME and RCF, visit rmeglobal.com and resourcecapitalfunds.com.
