Mining industry portal Yesresources will sell a controlling stake in its business to Queensland-based software house Mincom.
Mincom, one of the success stories of the Australian software industry, is recognised as a leader in the provision of solutions to the mining sector.
Yesresources is one of several local projects under way to provide portal solutions to the resources sector. Others include MiningXchange and Minmet. Earlier last year, another group, led by Mining magnate Joe Gutnick announced but then cancelled Baynet.com, another online exchange for the sector.
Globally, Quadrem, a consortium of about 15 international mining companies including BHP, WMC and Rio Tinto, is putting together a vertical industry exchange. It announced its first commercial transactions in November and is generally regarded as the pace setter in the sector.
Mincom plans to develop Yesresources into a mining marketplace offering trading and information facilities. The Yesresources initiative comes under the banner of Mincom's Innotech Solutions subsidiary that was launched in October.
Mincom's general manager for Innotech, John Hickey, said the acquisition of Yesresources would not only benefit Mincom's mining customers but would enable Mincom to achieve greater penetration into its other key vertical markets of defence, government, utilities and transportation.
"We will be co-developing a portal strategy with Yesresources to provide a similar service for customers in our other vertical markets and regions," he said.
-- The Industry Standard Australia