logo
Australian-made rocket set for historic space launch

Australian-made rocket set for historic space launch

Time of India14-05-2025

An Australian company says it aims to make the first
orbital test launch
of a locally-developed rocket on Thursday, carrying a jar of Vegemite as its payload.
The three-stage
Eris rocket
is set to fly from a spaceport near Bowen on the east coast, said its developer, Gilmour Space Technologies.
Tired of too many ads? go ad free now
If successful, it would be the first
Australian-made rocket
to make an orbital launch from Australian soil.
After securing approval from the Australian Space Agency, takeoff is expected within a multi-day window starting on Thursday, weather permitting, chief executive Adam Gilmour told AFP on Wednesday.
But he's not setting his hopes too high for now.
If it actually orbits Earth "I would probably have a heart attack, actually, because I'll be so surprised, but deliriously happy", Gilmour said.
"Look, we're going to be happy if it gets off the pad -- 10, 20, 30 seconds of flight time: fantastic. So orbit is just not in the realm of my belief right now, even though it's theoretically possible."
The 23-metre vehicle -- designed to launch
small satellites
into
low-Earth orbit
-- is being prepared for takeoff from Abbot Point, about 1,000 kilometres (600 miles) up from the Queensland capital Brisbane.
Weighing 30 tonnes fully fuelled, it relies on a "fairly unique" hybrid propulsion system, using a solid inert fuel and a liquid oxidiser, which provides the oxygen for it to burn, Gilmour said.
The payload for the test flight is a jar of Vegemite -- a popular Australian toast topping -- but the rocket design is for a capacity of 100-200 kilogrammes (220-440 pounds), with further upgrades being developed.
'We've done everything':
The test launch comes after about a decade of research by the company, which is backed by private investors including venture capital group Blackbird and pension fund HESTA.
"This is the first time an Australian company has done the design, build, manufacture, as well as the launch site.
Tired of too many ads? go ad free now
So we've done everything," Gilmore said.
The company, which has 230 employees, hopes to start commercial launches in late 2026 or early 2027, he said, and then to rapidly grow revenues.
"This is a test launch, which is normal for rockets, and we're going to see how we go and get as much data as we can -- the more flight time we get the better," Gilmour said.
A second rocket was already being built for launch sometime around the end of the year.
"We're going after the small sat business," he said.
"There's thousands and thousands of satellites that need to be launched into low orbit and there's not enough rockets. The signs are so clear about that, so we've just got to move as fast as we can."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

From sledgehammer blast mining for iron ore to precision mining with gold, NMDC eyes big critical minerals move
From sledgehammer blast mining for iron ore to precision mining with gold, NMDC eyes big critical minerals move

Time of India

time5 hours ago

  • Time of India

From sledgehammer blast mining for iron ore to precision mining with gold, NMDC eyes big critical minerals move

HYDERABAD: When India's largest iron ore miner, NMDC Ltd, made a strategic foray into gold mining in Australia in November 2023, the company's managers believed they had nothing new to learn. After all, they were in the mining business for the past six decades. What they didn't anticipate was that their traditional blast and grab operation was of no use in gold mining, and for the first time, they were forced to acquire new skills—the precision of a surgeon needed for vein mining. This new skill is also giving the Navratna PSU specialised knowledge needed for deep-seated critical minerals extraction. Today, NMDC has not only mastered the art of vein mining but is also all set to rake in its first set of profits from mining this precious yellow metal through its Australian arm, Legacy Iron Ore Ltd, after the initial setbacks. 'The last two-three months we turned around and were cash positive. If things continue the way they are going right now, we should be in the green this year (2025-26),' Amitava Mukherjee, chairman & managing director, NMDC Ltd, told TOI in an exclusive chat recently. Mukherjee said the diversification into gold mining has been a strategic learning curve for the company, with its Mt Celia gold mine in Australia, though relatively small in scale, serving as a crucial learning ground. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo "It was a very conscious forward point. In the last 60 years, we did bulk mining of iron ore, which is completely different from vein-type, deep-seated mining. When we went ahead with this project, we found we had no expertise in this type of mining," Mukherjee said. Explaining the unique challenges this type of mining poses, he said the gold deposits at Mt Celia have veins as thin as one to two meters, requiring precise extraction techniques. This is in stark contrast to NMDC's traditional iron ore mining operations, where bulk extraction methods are employed. "In iron ore mining, you would blast from left to right throughout. But in gold mining, blasting has to be absolutely controlled. It has to be precise because all you have is just two meters. The moment you dilute it, the grade drops from 2 gm to 1 gm per tonne," Mukherjee said. 'You have to spot it correctly; the size of the equipment has to be very correct. Every aspect of vein mining and deep-seated minerals mining is completely different,' he added. He said the decision to start small with Mt Celia, which has reserves of around 8,000 tonnes, was conscious. 'As a matter of strategic forward thinking, we started with a very small gold tenement at Mount Celia. So if we lose, we lose less money. Let's not start with a Rs 1000 crore sort of investment, we thought,' he explained. The Mt Celia mine currently produces gold ore with grades ranging from 1.5 to 2.1 grams per tonne, which Mukherjee described as "pretty good in gold mining. " Having mastered precision vein-mining, NMDC is now looking to expand its gold mining portfolio, with several tenements adjacent to Mount Celia under consideration. "We have a lot of gold tenements which are pretty good for us. However, we decided to start with Mount Celia's Blue Peter and Kangaroo Bore pits to gain experience first," Mukherjee said. Apart from Mt Celia, it also has Yilgangi, Yerilla, Patricia North, and Sunrise Bore in Australia. While acknowledging the initial losses, he said NMDC remains confident about the long-term prospects of its gold mining operations. "I'm not really bothered about that Rs 150 crore or Rs 160 crore losses that we made. What we lost, we'll gain next year," Mukherjee stated, emphasising the strategic value over short-term financial results. NMDC, which acquired a 50% stake in Legacy Iron Ore in 2011 and has been steadily hiking its stake, currently holds over 92.84% stake in the Australian company with plans to take this up to 100% over a period of time. NMDC's experience in gold mining is expected to play a crucial role in its future diversification plans, particularly in mining other strategic minerals that require similar precision mining techniques, he indicated. The company views this as a necessary evolution in its mining capabilities that will help it position itself for opportunities in various strategic critical minerals, Mukherjee said, pointing out that minerals like lithium require the same set of expertise. Gold and lithium are among the 10 critical minerals that NMDC has decided to focus on. These also include copper, coking coal, nickel, manganese, dolomite, bauxite, and cobalt. 'As a company, we have been mandated by the board to focus on these 10 minerals, which includes our bread and butter iron ore and other critical minerals. We are very clear we are not going to do rare earth minerals,' he said. This foray has also meant the setting up of new operational divisions and acquisition of specialised expertise in NMDC. The company has established a dedicated team for precision mining operations, marking a departure from its traditional bulk mining focus. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
Shein and Reliance aim to sell India-made clothes abroad within a year, sources say

Time of India

time5 hours ago

  • Time of India

Shein and Reliance aim to sell India-made clothes abroad within a year, sources say

HighlightsFashion retailer Shein, in partnership with Reliance Retail, aims to expand its Indian supplier base from 150 to 1,000 within a year, with plans to start overseas sales of India-made Shein-branded clothing within six to twelve months. Shein's return to India follows a ban in 2020 due to government actions against China-linked companies, and now operates under a licensing agreement with Reliance Industries, offering locally produced apparel through the platform. The partnership between Shein and Reliance Retail is part of a broader trend among global fashion companies seeking to diversify sourcing outside of China amid ongoing trade tensions, with Reliance planning to invest in new suppliers and enhance manufacturing capabilities in India. Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start overseas sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered e-commerce firm has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said. In a statement to Reuters, Shein said it licensed its brand for use in India. Reliance did not respond to queries. Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which were previously imported duty free. The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour. It returned in February under a licensing deal with the Reliance Industries unit which launched selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China. Reliance, controlled by Asia's richest person, Mukesh Ambani , has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns. The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said. Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said. The scale of supplier expansion and export time frame is reported here for the first time. Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market," Shein said in a statement. In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally". ON-DEMAND MANUFACTURING Shein is a fast-fashion behemoth earning annual revenue of over $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil. Its expansion in India mirrors interest in the country from the likes of Walmart and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the Sino-U.S. trade war. The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth, showed data from market intelligence firm Sensor Tower. Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on its U.S. site. In the women's dresses category, its cheapest item is priced 349 Indian rupees ($4) versus $3.39 on the U.S. site as of June 9. Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said. Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said. Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible". The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer. The firm also runs e-commerce site Ajio and its retail network competes with Amazon and Walmart's Flipkart as well as value retailers such as Tata's Zudio. Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said.

BYD unleashes an EV industry reckoning that alarms Beijing
BYD unleashes an EV industry reckoning that alarms Beijing

Time of India

time5 hours ago

  • Time of India

BYD unleashes an EV industry reckoning that alarms Beijing

HighlightsThe ongoing price war in China's electric vehicle industry, led by market leader BYD Company Limited, is causing significant declines in share prices and prompting governmental intervention to curb aggressive discounting and prevent further market instability. Despite attempts by Chinese authorities to manage the situation, analysts predict that overcapacity and weak demand will force many automakers, especially smaller ones, to consolidate or exit the market, as evidenced by the exit of 16 new energy vehicle brands in 2024. Concerns have emerged regarding the long-term sustainability of Chinese automakers, as relentless discounting erodes profit margins and brand value, while also risking the quality and safety of vehicles produced amid financial pressures. The price war engulfing China's electric vehicle industry has already sent share prices tumbling and prompted an unusual level of intervention from Beijing. The shakeout may just be getting started. For all the Chinese government's efforts to prevent price cuts by market leader BYD Co. from turning into a vicious spiral, analysts say a combination of weaker demand and extreme overcapacity will slice into profits at the strongest brands and force feebler competitors to fold. Even after the number of EV makers started shrinking for the first time last year, the industry is still using less than half its production capacity. Chinese authorities are trying to minimize the fallout, chiding the sector for 'rat race competition' and summoning heads of major brands to Beijing last week. Yet previous attempts to intervene have had little success. For the short term at least, investors are betting few automakers will escape unscathed: BYD, arguably the biggest winner from industry consolidation, has lost $21.5 billion in market value since its shares peaked in late May. 'What you're seeing in China is disturbing, because there's a lack of demand and extreme price cutting,' said John Murphy, a senior automotive analyst at Bank of America Corp. Eventually there will be 'massive consolidation' to soak up the excess capacity, Murphy said. For automakers, relentless discounting erodes profit margins, undermines brand value and forces even well-capitalized companies into unsustainable financial positions. Low-priced and low-quality products can seriously damage the international reputation of 'Made-in-China' cars, noted the People's Daily, an outlet controlled by the Communist Party. And that knock would come just as models from BYD to Geely, Zeekr and Xpeng start to collect accolades on the world stage. For consumers, price drops may seem beneficial but they mask deeper risks. Unpredictable pricing discourages long-term trust — already people are complaining on China's social media, wondering why they should buy a car now when it may be cheaper next week — while there's a chance automakers, as they cut costs to stay afloat, may reduce investment in quality, safety and after-sales service. Auto CEOs were told last week they must 'self-regulate' and shouldn't sell cars below cost or offer unreasonable price cuts, according to people familiar with the matter. The issue of zero-mileage cars also came up — where vehicles with no distance on their odometers are sold by dealers into the second-hand market, seen widely as a way for automakers to artificially inflate sales and clear inventory. Chinese automakers have been discounting a lot more aggressively than their foreign counterparts. BofA's Murphy said US automakers should just get out. 'Tesla probably needs to be there to compete with those companies and understand what's going on, but there's a lot of risk there for them.' Others leave no room for doubt that BYD, China's No. 1 selling car brand, is leading the way on price cuts. 'It's obvious to everyone that the biggest player is doing this,' Jochen Siebert , managing director at auto consultancy JSC Automotive, said. 'They want a monopoly where everybody else gives up.' BYD's aggressive tactics are raising concerns over the potential dumping of cars, dealership management issues and 'squeezing out suppliers,' he said. The pricing turmoil is also unfolding against a backdrop of significant overcapacity. The average production utilization rate in China's automotive industry was mere 49.5% in 2024, data compiled by Shanghai-based Gasgoo Automotive Research Institute show. An April report by AlixPartners meanwhile highlights the intense competition that's starting to emerge among new energy vehicle makers, or companies that produce pure battery cars and plug-in hybrids. In 2024, the market saw its first ever consolidation among NEV-dedicated brands, with 16 exiting and 13 launching. 'The Chinese automotive market, despite its substantial scale, is growing at a slower speed. Automakers have to put top priority now on grabbing more market share,' said Ron Zheng, a partner at global consultancy Roland Berger GmbH. Jiyue Auto shows how quickly things can change. A little over a year after launching its first car, the automaker jointly backed by big names Zhejiang Geely Holding Group Co. and technology giant Baidu Inc., began to scale down production and seek fresh funds. It's a dilemma for all carmakers, but especially smaller ones. 'If you don't follow suit once a leading company makes a price move, you might lose the chance to stay at the table,' AlixPartners consultant Zhang Yichao said. He added that China's low capacity utilization rate, which is 'fundamentally fueling' the competition, is now even under more pressure from export uncertainties. While the push to find an outlet for excess production is thrusting more Chinese brands to export, international markets can only offer some relief. 'The US market is completely closed and Japan and Korea may close very soon if they see an invasion of Chinese carmakers,' Siebert said. 'Russia, which was the biggest export market last year, is now becoming very difficult. I also don't see Southeast Asia as an opportunity anymore.' The pressure of cost cutting has also led analysts to express concern over supply chain finance risks. A price cut demand by BYD to one of its suppliers late last year attracted scrutiny around how the car giant may be using supply chain financing to mask its ballooning debt. A report by accounting consultancy GMT Research put BYD's true net debt at closer to 323 billion yuan ($45 billion), compared with the 27.7 billion yuan officially on its books as of the end of June 2024. The pain is also bleeding into China's dealdership network. Dealership groups in two provinces have gone out of business since April, both of them ones that were selling BYD cars. Beijing's meeting with automakers last week wasn't the first attempt at a ceasefire. Two years ago, in mid 2023, 16 major automakers, including Tesla Inc., BYD and Geely signed a pact, witnessed by the China Association of Automobile Manufacturers, to avoid 'abnormal pricing.' Within days though, CAAM deleted one of the four commitments, saying that a reference to pricing in the pledge was inappropriate and in breach of a principle enshrined in the nation's antitrust laws. The discounting continued unabated.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store