Aquirian Limited (ASX: AQN) has kicked off 2025 with a bang, announcing that its subsidiary, Western Energetics, has secured a three-year supply agreement with Aurenne Mt Ida Gold Pty Ltd (Mt Ida). Valued at approximately $20 million, the deal highlights Aquirian’s growing reputation for delivering innovative mining solutions.
Managing Director Greg Patching underscored the significance of the deal, stating, “This tailored solution not only optimises blast outcomes but also eliminates single-use plastics, reduces costs, and enhances efficiency for our valued customers. Western Energetics continues to play a key role in delivering our strategy across a growing customer base.”
What’s particularly noteworthy is that the agreement requires no capital outlay by Aquirian, reinforcing the company’s asset-light business model.
This contract builds on a strong 2024 for Aquirian, where quarterly revenue rose 24.6% to $7.2 million, driven by the success of the Wubin Emulsion Facility. The facility, which reopened last year, has since ramped up production to over 2,000 tonnes per month, supporting both tolling and trade sales.
Western Energetics has proven pivotal to the company’s growth, with its capacity to provide tailored solutions and cutting-edge technology, such as the Collar Keeper® system. This innovative product, which improves blast-hole quality while reducing environmental waste, has gained significant traction in the market, evidenced by a Minerals Research Institute of Western Australia (MRIWA) grant to develop an automated version.
At the 2024 AGM, Aquirian Chair Bruce McFadzean highlighted the strategic focus on maximising value from the blast-hole process. He noted that Western Energetics complements this strategy by offering bulk energetics, blast initiation systems, and the Collar Keeper® technology.
McFadzean described the Mt Ida agreement as a validation of this approach, adding, “Western Energetics further enhances our participation in the blast-hole value chain, optimising blast fragmentation for our customers.”
This deal also aligns with Aquirian’s broader focus on technology-led solutions, as the company aims to position itself as a leader in mining efficiency and sustainability.
The three-year deal is expected to generate a steady revenue stream, contributing to Aquirian’s financial stability and capacity to invest in further innovation. With no capital outlay required, the agreement is likely to have a positive impact on cash flow and margins.
The company’s strategic investment in technology and sustainability, combined with its proven ability to secure significant contracts, underscores Aquirian’s growing importance in the mining services landscape.
Investors will be keeping a close eye on how this agreement propels the company’s performance in 2025, while management’s focus on sustainable and efficient solutions positions Aquirian as a standout player in the mining sector.
Aquirian’s commitment to delivering innovation and value continues to resonate with the market, and this latest milestone solidifies its role as a key enabler of modern mining operations.