Telstra is branching out into the resources industry, hiring two mining experts and buying a mining communications services business from Brisbane-based CBO Telecommunications.
Australia's largest telco has not revealed what it will pay for the business, which it said forms part of a strategic investment in the mining industry under the newly-formed Telstra Mining Services unit.
Telstra said it plans to deliver technology including high bandwidth networks and mobility solutions to help miners transition to a digital future.
"The decline in global commodity prices is largely driving a downturn in the resources sector and, as a consequence, sharpening the industry's focus on reducing costs and maximising production," Telstra Global Industries head David Keenan said.
"This downturn has created a once in a lifetime shift, where miners are looking to technology innovation to help them future proof their operations."
CBO Telecommunications provides expertise for the design, construction and maintenance of enterprise-grade networks used in mine sites, and has longstanding relationships with key customers in the mining and oil and gas sectors.
Telstra has also hired two mining experts - Anglo American Platinum's recent head of technology and innovation Jeannette McGill, and the former head of Rio Tinto's automation development team Eric Nettleton.
Ms McGill will lead Telstra Mining Services, while Mr Nettleton will work on the company's new mining technology products.
Telstra has been hunting for growth opportunities overseas as its mobile dominance at home comes under increasing pressure from rivals Optus and Vodafone Hutchison.
