June 2012: Press Release: Imdex adds next generation drilling horsepower to DET CRC

Posted on June 5, 2012 by DET CRC

It can take one to two decades to turn a mineral discovery into a mining development, and in the last three years just a handful of major new mineral deposits have been uncovered.

Which is why one of the world’s leading drilling supply and service companies, Imdex, has joined the Australian-based Deep Exploration Technologies Cooperative Research Centre (DET CRC).

Imdex is an ASX listed company headquartered in Perth that provides innovative drilling fluids and advanced downhole instrumentation to the mining, oil and gas, water well, horizontal directional drilling and civil engineering industries worldwide.

It is the 12th Participant to join the DET CRC alongside the world’s largest and most influential mining companies and service providers.

“Imdex’s driving philosophy is to increase the effectiveness of drilling programmes to meet the world’s future demands for minerals and oil and gas. We therefore have strong common goals with the DET CRC,” Imdex Managing Director, Bernie Ridgeway said.

“We view the opportunity to become a Participant as a chance to work collaboratively with likeminded people to bring real innovation to an industry that is facing increasing challenges in delivering the new ore bodies the global economy needs in the coming decades.”

Imdex’s minerals division offers the leading brands of drilling fluids (AMC) and downhole instrumentation (Reflex) to the global mining industry.

“Reflex recently launched several new instruments and AMC is currently rolling out the release of unique centrifugal solids removal technology to the mineral exploration industry,” Mr Ridgeway said.

“The Solids Removal Unit, or SRU, will revolutionise the drill site by making it possible to recycle the drilling fluid and make the need for drilling fluid sumps alongside the drill rig a thing of the past.”

Imdex has dedicated research and development facilities located in Perth, UK, Germany and USA to ensure continued product improvements, introduction of new products and client support.

DET CRC CEO Professor Richard Hillis said he was very excited by the entry of Imdex as a Participant.

“This provides more funding, more expertise and a second Participant Level service provider to the DET CRC Consortium, all of which will accelerate our research,” he said

“Imdex’s expertise, for example in downhole navigation, downhole motors and drilling muds, will provide significant extra horsepower towards our Next Generation Drilling Technologies Project.

“This aims to develop a coiled tubing drilling rig for mineral exploration that will be cheaper, faster, safer and more environmentally friendly than existing drill rigs.

“Imdex’s entry also provides a major boost to the DET CRC’s philosophy of rapid commercialisation of Intellectual Property (IP) through the service sector.

“Imdex will share the first right, with Boart Longyear, to commercialise DET CRC IP, increasing the potential range of and market for commercialised services.”

New Industry Participants may join the DET CRC for an annual fee of $450,000. This contribution may qualify for a tax offset under the Australian Government’s R&D Tax Incentive Scheme.

www.detcrc.com.au

Further information:

Olivia Fuller
FULLER
08 8363 6811
0400 116 668
olivia.fuller@fuller.com.au