Documents Relating To The Announcement Of National Reconstruction Fund Investments.

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The National Reconstruction Fund Corporation board approved two significant investments in November 2024: a $100 million partnership commitment with Resource Capital Funds (RCF), a private equity firm specializing in mining innovation, and two specific investments from this partnership—up to $40 million equity in Russell Mineral Equipment (RME), a mill relining systems manufacturer, and up to $13 million preferred equity in Quantum Brilliance, a quantum materials and hardware company. RCF's Innovation strategy targets emerging technologies to improve mining safety, efficiency, and environmental outcomes. The $60 million balance from the RCF commitment remains unallocated, with future investments to be assessed case-by-case. This ministerial notification brief documents the board's final approval decisions made at its 23 October 2024 meeting.