Aquirian

What Aquirian does

Aquirian is an ASX-listed (AQN) integrated mining services company headquartered in Perth, Western Australia. Founded in 2017, the group provides technology, energetics, and people services to mining and resources operators, structured around three divisions — Drillforce (drill and blast), Mining Services (TBS Mining Solutions, Western Energetics, MagLok, Cybem Services), and People Services (TBS Workforce, Modular Training RTO 51694). Its core proprietary technology is the patented Collar Keeper® blasthole stabilisation system, launched in 2018 with a full system rollout in 2019, supplemented by a biodegradable variant manufactured from banana plantation waste in partnership with Papyrus Australia.

The group generates revenue through a mix of hardware sales (Collar Keeper® and biodegradable collars), managed drill-and-blast services under multi-year supply agreements, professional services covering explosives storage, energetics, on-site labour, mechanical repair and workforce staffing, and accredited shotfiring training. Aquirian sells directly to enterprise mining clients through field sales teams in Australia (primarily Western Australia) and internationally, including Chilean copper operations, serving 60+ active clients across 12 countries. Customer relationships are anchored by long-term contracts, exemplified by a 3-year supply agreement with Brightstar and a CAN$4.2M biodegradable collar supply agreement with TBS Mining Solutions.

The group has expanded via a combination of organic product development, strategic joint ventures (Drillforce WA with Topgroup in October 2025) and bolt-on acquisitions (MagLok in 2023). The company completed its ASX listing in 2021, raised approximately A$7.3M through two post-IPO placements in 2025, and reported 28% revenue growth in 2025 driven by Mining Services and international sales.

Name

Aquirian

Legal name

Aquirian Ltd

Website

https://aquirian.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Aquirian (ASX: AQN) is an integrated mining services group providing patented drill-and-blast technology, energetics, explosives storage, workforce staffing and accredited training to enterprise mining clients in Australia and 12 countries internationally.

Ownership category

akta.pro rank

Product category

Mining Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (213), Mining Machinery and Equipment Manufacturing (333131), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Wholesale-Construction & Mining (No Petro) Machinery & Equip (5082), Construction, Mining & Materials Handling Machinery & Equip (3530)

akta.pro primary industry

Blasting & Explosives Services (Drill-and-Blast, Explosives Supply, Shot Services) (IMAKAKAC)

akta.pro secondary industries

Mine Operations Contracting (Open-Pit & Underground Development, Production, Load/Haul) (IMAKAKAD), Mine Site Support Services (Camp/Catering, Security, Fuel & Lubricants, Water, Waste, Roads) (IMAKAKAE), Drill Tools, Bits & Downhole Equipment (IMAHAMAB)

Keywords

• Mining services
• Drill and blast
• Blasthole stabilisation
• Explosives storage
• Mining workforce staffing

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Technology Products: Sale and supply of proprietary Collar Keeper® blasthole stabilisation products, including biodegradable variants. Revenue generated from product sales, system deployment and ongoing supply agreements (e.g., CAN$4.2 million agreement with TBS Mining Solutions).
2. Mining Services: Energetics, explosives storage and blasting services. Includes Western Energetics emulsion plant operations, MagLok explosives storage solutions, and on-site labour and field services through Cybem Services.
3. Drillforce Drill & Blast: Technology-led, vertically integrated drill and blast solutions. Delivers measurable productivity improvements through proprietary technology, integrated explosives supply and productivity-led operating model. Revenue from long-term supply and service agreements (e.g., 3-year agreement with Brightstar).
4. People Services: Workforce staffing, executive recruitment and accredited training programs through TBS Workforce and Modular Training (RTO 51694). Shotfiring training courses for individuals, mining contractors and companies.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Aquirian delivers integrated mining services spanning drill and blast operations, proprietary blasthole stabilisation hardware (Collar Keeper®), explosives storage and energetics, workforce staffing, and accredited shotfiring training. Offerings are grouped under three pillars (Drillforce/Technology, Mining Services/Energetics, People Services) and sold directly to mining operators via long-term supply and service agreements.

Product overview

Aquirian is a technology-led integrated mining services company offering a portfolio of products and services across drill and blast operations. The core offerings include Drillforce (technology-led drill and blast partner), the patented Collar Keeper® and Collar Keeper® System (blasthole stabilisation technology), and the new Biodegradable Collar Keeper (sustainable product made from banana waste). Supporting divisions include TBS Mining Solutions (equipment and field services), MagLok (explosives storage), Western Energetics (energetics and logistics), TBS Workforce (staffing), Modular Training (RTO training), and Cybem Services (mechanical repair). The company operates through a platform-plus-modules architecture with multiple specialised subsidiaries delivering integrated solutions under the Aquirian group.

Differentiator

Problem solved

Functional benefit

Brands

• Drillforce: Technology-led, vertically integrated drill and blast partner delivering measurable improvements in productivity, cost and safety.
• TBS Mining Solutions
• TBS Workforce
• Western Energetics
• MagLok
• Modular Training

Products and services

• Drillforce Technology-led, vertically integrated drill and blast partner delivering measurable improvements in productivity, cost and safety through proprietary technology, integrated explosives supply and a productivity-led operating model for mining operations.
• Collar Keeper® System Patented blasthole stabilisation technology for the mining sector that prevents collar damage during drilling operations, sold as a full system to mining operations.
• Biodegradable Collar Keeper® Biodegradable variant of the Collar Keeper® blasthole stabilisation product, made from banana plantation waste. Provides a sustainable alternative for mining sector customers and addresses organic waste in the Australian banana industry.
• TBS Mining Solutions Provides ancillary and underground lease equipment, the Collar Keeper® System, on-site labour support, field service and mechanical repair services to mining operations.
• MagLok Specialises in certified explosives storage solutions for clients throughout the mining and defence industries.
• Western Energetics Strategically located facility offering exceptional storage, logistics, and energetics solutions supporting mining operations in Western Australia, including Wubin emulsion plant operations.
• TBS Workforce Provides flexible resourcing arrangements and workforce staffing for mining and resources clients.
• Modular Training

Quantifiable outcome

• 28% revenue growth in 2025
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered major, minor and core.

• BrightstarmajorChannel Partner/ Reseller/ Distributor · 1 April 2026Drillforce secured a 3-year supply agreement with Brightstar for drill and blast services. Brightstar operates in the mining sector and represents a significant contract win for Aquirian's Drillforce division.
• HongdaminorStrategic or Co-development Partner · 1 November 2025Aquirian entered into a 90-day strategic review and framework agreement with Hongda in November 2025. The nature and outcome of the strategic review is not detailed in available sources.
• TopgroupcoreStrategic or Co-development Partner · 1 October 2025Drillforce WA joint venture combines Aquirian's proprietary Collar Keeper® technology with Topgroup's Topdrill exploration drilling services to deliver integrated drill and blast solutions to mining clients in Western Australia. The joint venture is a technology-led, vertically integrated offering.
• Papyrus Australia (PPY)coreStrategic or Co-development Partner · 1 August 2025Aquirian's TBS Mining Solutions executed a term sheet and contract with Papyrus Australia for biodegradable Collar Keeper® offtake and supply. Papyrus Australia provides banana plantation waste converted into biodegradable blast collars. CAN$4.2 million supply agreement for Collar Keeper® product signed in November, with several hundred collars produced and undergoing customer acceptance field testing.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Perenti Global: Australian-based diversified mining services contractor offering drilling, blasting, and load-and-haul services. Directly comparable in vertical integration, customer base (Australian mining operators), and integrated surface and underground services model.
• Macmahon Holdings: Australian mining contractor providing drilling, blasting, and mining services across Australia and Southeast Asia. Comparable in scale and Australian-focused mining services delivery, with similar exposure to gold, copper, and iron ore miners.
• Austin Powder: Privately held global manufacturer of industrial explosives and blasting services with focus on mining, quarrying, and construction. Directly comparable as a privately-held, mid-sized explosives and blasting services peer serving similar mining customers.
• Downer EDI: Australian integrated services provider with mining, blasting services, and explosives operations. Comparable in Australian integrated mining services delivery including drill and blast, and serves similar large mining customer base.

Broad incumbents

• Epiroc: Global leading mining and infrastructure equipment manufacturer offering drilling rigs, rock excavation tools, and consumables. Comparable as the broader incumbent in mining drilling equipment; Aquirian's Collar Keeper® sits within Epiroc's drilling consumables ecosystem and is fitted to Epiroc SmartROC rigs.
• Dyno Nobel: Major global commercial explosives and blasting solutions provider serving mining, quarrying, and construction. Overlaps with Aquirian's Western Energetics and MagLok offerings in explosives supply and storage, and competes in integrated drill-and-blast services.
• Sandvik Mining and Rock Solutions: Global provider of mining equipment, tools, and digital solutions including drilling rigs and consumables. Comparable as a major OEM competing in the blasthole drilling tools space where Aquirian's Collar Keeper® is deployed.
• Orica: Global leader in commercial explosives and blasting services for mining, quarrying, and infrastructure. Directly comparable as a blast-focused mining services provider with explosives supply and integrated drill-and-blast capabilities, but materially larger scale and broader geographic footprint than Aquirian.
• Boart Longyear: Global provider of drilling services and drilling equipment consumables to the mining industry. Comparable in drilling consumables and tooling where Aquirian's Collar Keeper® is positioned, with significant overlap in blasthole drilling tooling customers.

Regional players

• BME (Omnia Holdings): Leading African commercial explosives and blasting services provider for mining, quarries, and infrastructure. Comparable as an integrated explosives and blasting peer serving hard rock mining, but with primary focus on African markets rather than Australia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/aquirian1

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aquirian