Welcome!

We are so thrilled to bring you the first biannual issue of AusBiz. There has been so much talk recently about a resurgence in print and people wanting a break from their devices, and so we thought we'd take a leap of faith and invest in a magazine that we hope you love to read while taking some time off from your phone and computer. I know I need to take more time out to sit back with a cuppa and read about what other people out there are achieving. There's a lot going on, and after the past few crazy years, it's so nice to see so many people at the airport, in the lounges and hopping on to planes with an exciting adventure or new prospects ahead.

AusBiz. can be found in Rex lounges in Sydney, Melbourne, Brisbane and Adelaide, at Mines & Money trade shows across the country, and at Skye Suites Sydney and Brisbane Airport Hotels. There are plenty of other magazines and newspapers out there, but there aren't many that have a pure focus on Australian businesses and our thriving industries. In every issue, we'll dive into agriculture, mining, finance, tech, charity and environmental issues. Our publishing company has always been about supporting and showcasing Australian business, and we hope that through this magazine we can help spread word of the many amazing things that Australians are doing out there.

If you like what you read, and want to catch up on some great news online, or be sent stories to your inbox every Monday, sign up to our AusBiz. newsletter and we'll ensure that we send you interesting stories every week from our top journos and experts in their fields. If you think there is something we should be covering that you don't see in these pages, get in touch, as we always love hearing fresh new ideas, and there are many ways in which we can collaborate. Whatever you are working on right now, we wish you all the best. I think 2023 and beyond are going to be some great years, and we hope to see you out there hustling!

Onwards and upwards!

Finance

8 AI IN BANKING

The impacts of AI in the banking sector

12 AGRIFOODTECH Australia has been dubbed as an ‘ag powerhouse.’

16 BENEFITS OF BONDS

Investment advice from the CEO of Saxo Australia.

18 FARM TO BUY

The Farm to Buy program gives a boost to the blue economy and oysters.

HR & Recruitment

22 FINDING HAPPINESS

Would you quit your job for the sake of your happiness?

Agriculture

26 ORGANIC WINE

Why isn’t organic wine taking off in Australia? The next generation are leading the charge.

30 SUNFLOWER BOOM

Australian farmers are turning their sunflower farms into agritourism ventures.

33 NORCO’S PEA MYLK

An innovative new drink made from peas offers another alternative to milk.

34 DAIRY IN 2023

We look into the challenges and the future of Australia’s booming dairy industry.

Business

38 MENOPAUSE AT WORK

We discuss how menopause is affecting women in the workplace.

42 GROVE JUICE

Aussie company Grove Juice puts Indigenous artists in the spotlight.

46 BULLYOLOGIST Q&A

Jessica Hickman is paving the way for healthier workplace culture.

47 WOMN-KIND Q&A

Ruby Reithmuller chats about her app aiding young people’s mental health.

Mining

48 POSITION PARTNERS

Australia’s premier provider of positioning and machine control solutions.

50 THE BIG NEW BOOM

What post-pandemic crisis? The future of mining has never looked brighter.

56 DUST SUPPRESSION

The Qld government has funded a new project that tackles dust pollution.

59 NINA’S JEWELLERY

Nina’s are the coloured diamond specialists. Learn about the latest collection.

Environment

Charity

Technology

Prefer to read our content online? No worries, there’s a newsletter too!

Head to ausbizmedia.com – which is dedicated to Australian businesses, products, services and people. Find timely features by journalists on topics and industries such as finance, business, the environment, charity, agriculture, technology and mining. You can also sign up to our weekly AusBiz. newsletter that is always packed with new stories hot off the press.

The Future Of Rice Production

Australia’s rice industry is attempting to increase water efficiency by 75 per cent over the next five years. Rice Breeding Australia (RBA), an organisation established in 2022, is on a mission to research types of rice that require less water in production, leading to a more environmentally friendly crop. But the road ahead isn’t smooth.

For the past five years, production of rice was equivalent to 0.8 tonnes per megalitre of water. Ninety-eight per cent of this was produced in the Riverina region of New South Wales. According to Georgina Pengilley, CEO of RBA, the main focus of the research is on genetics, in the hope of finding breed varieties that require less water.

“We look to take those best ones forward for the growers to have, and start to meet those water productivity targets,” she says.

There are many variables to consider when growing rice, such as the availability of water, weather and variety in yield. These factors mean a water efficiency target is a very difficult goal, one which requires more than just a lessthirsty crop. Rice is also impacted by cold temperatures, so farmers create a blanket of water to keep the crop insulated for the majority of the growing period. This means that researchers are also tasked with finding a crop with a higher temperature tolerance to negate this need for extra water. Despite these challenges, Georgina remains optimistic about the future of the industry.

An out-of-this-world Valentine’s day NASA is tracking an asteroid that could collide with Earth around Valentine’s Day in 2046. Measuring approximately 50 metres wide – the length of an Olympic swimming pool – this floating object has been named 2023 DW, and has an estimated one in 607 chance of hitting our small blue planet.

As with all unusual sightings, 2023 DW has been added to the ‘risk list,’ a compilation of objects in space that have the potential to affect Earth. Each object is ranked on the Torino scale, which was developed in 1999 and rates an object’s potential to collide with Earth. The newly discovered asteroid was ranked at level one on the scale, meaning it “poses no unusual level of danger,” and “the chance of collision is unlikely, with no cause for public concern.” However, 2023 DW is the only asteroid on a list of 1,448 others that rank higher than zero on the Torino scale.

Italian astronomer Piero Sicoli added to the conversation by predicting that the chance of 2023 DW hitting Earth was actually one in 400, and even created a map of possible locations where the asteroid could land. However, he believes the possibility of impact will soon be ruled out. With more than two decades before any real threat emerges, NASA officials remain confident that 2023 DW poses no significant threat to our planet.

“Genetics is a long game, so for RBA the main key is that we can demonstrate we’re making inroads,” she says. “The more numbers we have in the program, the more opportunity we’ve got to look at germ plasm and therefore end up with a variety that’s going to work for the growers.”

Bee vaccination approved to fight deadly disease

The US Department of Agriculture has approved a vaccine to protect honeybees from American foulbrood (AFB), and it has positive implications for the future of Australian bees. AFB is a fatal disease found all over Australia. Legally, all hives infected with AFB must be destroyed to prevent further spreading, making it a big problem for bees and beekeepers. AFB is often spread due to poor beekeeping habits, or by the bees themselves. It infects and kills baby bees, leaving spores that can continue to infect the hive for 40 to 80 years. Once it reaches a bee community, there’s not much that can be done.

The new vaccine was developed by the biotech company Dalan Animal Health, which uses dead cells from Paenibacillus larvae bacteria, the primary cause of AFB, to develop immunity. Expected to be released into the market later this year, the vaccine will be fed to worker bees, who will then transfer it to the jelly they feed to the queen. Once the queen is protected, she can pass on immunity to her young. This simple and effective vaccine is giving scientists hope for a solution against this deadly disease: a means of protecting bees and ensuring their long-term survival.

NEW METHOD FOR STOPPING “FISHY” SEAFOOD FRAUD

Scientists can now use fish ear bones to distinguish between fish species, and in turn stop seafood fraud. The ear bones, known as otoliths, of every species of fish are unique in size and shape. Analysing trace elements found in otoliths, as well as water residue, can determine whether a fish is migratory or resident of different areas. By collecting samples from fish markets and looking at the fish provenance, experts can determine if the fish are really from where the merchants claim, or if they’re involved in seafood fraud.

This is possible thanks to the Department of Primary Industries and Regional Development, which has compiled over 350,000 otoliths in a library after more than three decades of studying fish ear bones. While scientists previously used scales to determine the age and health of fish, otoliths offer a more accurate measurement. Through the study of these bones, fisheries can also determine the health of a fish species, and the spread of ages within a community. Ear bones found in the stomachs of other fish and birds can also lead to a greater understanding of the food chain.

Electrifying The Nation

The Evolution Group, one of Australia’s largest traffic control and management companies, has committed to becoming the first company in the world to fully electrify its fleet of light utility vehicles in Australia and New Zealand.

The Evolution Group will convert 500 of its vehicles to fully electric over the next five years, with a further target of having the first electrified traffic management vehicle ready and roadworthy by 2023. The announcement comes after the company’s recent partnership with Tembo, the electric vehicle subsidy of the global B Corporation, VivoPower International –a global B Corporation – which will help Evolution fulfil its conversion promise.

Kerry Dale, Non-executive Chairman of Evolution, says: “Evolution is constantly evaluating opportunities to offer innovative and competitive solutions to the industry. We have one of the largest fleets of vehicles for traffic management services across Australia and New Zealand,

Winds of change

Australia has joined the Global Offshore Wind Alliance (GOWA), an association organised by the International Renewable Energy Agency. The collective aims to see 380 gigawatts of offshore wind infrastructure built globally by 2030. Currently the world has around 60 gigawatts of offshore wind capacity, with no operational projects in Australian waters. However, many private companies are keen to explore opportunities to advance Australia’s contribution, which with the potential to reach a capacity of 40 gigawatts.

Nine other countries, including Japan, Germany, the US and the UK signed up to the alliance after COP27, the UN Climate Change Conference, held in Egypt late last year. Speaking at the summit, Australia’s Climate Change Minister Chris Bowen stated: “Australia is back as a constructive, positive and willing climate collaborator.” His words have raised hopes of Australia taking stronger action on climate change going forward.

Currently, Australia is ranked 51 out of 59 countries for its climate action, according to the annual Climate Change Performance Index. It’s a sobering statistic, and one the government hopes to combat through this increase in action. This includes a bid to host the UN Climate Conference in 2026, a demonstration of their commitment to protecting the environment.

and being the first to commit fully to electrification will help to set eco-friendly standards for the industry.”

The first phase will involve electrifying 80 vehicles, which will be tested in commercial trials. If the trials are successful, Evolution is committed to transforming its whole fleet, maintaining its objective to deliver costeffective and environmentally friendly solutions.

How Living Seawalls Are Increasing Biodiversity In Sydney Harbour

According to new research on Living Seawalls, this marine science initiative is having significant environmental benefits. The study, which involved two years of monitoring and evaluation of a large Sydney Harbour installation, has given scientists hope for a brighter future for our marine life.

Living Seawalls are a collection of modular panels designed to be installed along coastal sites to increase biodiversity, which has been disappearing from Sydney Harbour in recent years. According to Melanie Bishop, Associate Professor and coastal ecologist at Macquarie University, the trials have been successful so far.

“Our research assessed how biodiversity on the seawall panels changed through time,” she says. “We found that 115 different species colonised the wall over a two-year period… about 20 per cent greater than what we see on unmodified sea walls.”

The seawalls are designed to be tailored to each site. As sea levels rise, the panels can be expanded vertically to keep up. While normally seawalls are bare surfaces with minimal protection from predators or extreme weather, Living Seawalls help to keep habitats cool and sheltered.

So far, 10 different habitat surfaces have been designed, mimicking various natural shoreline features including rockpools, sponge fingers and weathered rock. After the two-year study period, researchers found a high number of oysters along the panels, which improved water filtration and became an important food resource for local fish species.

According to Melanie, the project “involves ongoing monitoring and evaluation, collecting data that informs decisions on how to best use these approaches and how to continue to improve these approaches over time.”

The prototype producing environmentally friendly hydrogen

Researchers have built a prototype for a solar powered device that produces hydrogen fuel from moisture in the air. This hydrogen has over 99 per cent purity, even when used in air as dry as 4 per cent humidity. While still in the early stages, this technology could allow for the production of hydrogen without carbon emissions.

Hydrogen is an important resource used in a variety of industries, yet is relatively scarce in nature. Water is the only byproduct it yields, however the process of creating this hydrogen requires energy input involving fossil fuels, leading to carbon emissions.

The device that seeks to put an end to this reality is made up of spongy material with a hygroscopic liquid. This fluid has the ability to absorb moisture from the air. These absorbed molecules are then split into hydrogen and oxygen gases, in a process called electrolysis.

According to the study’s lead author and a senior lecturer in chemical engineering at the University of Melbourne, Dr Kevin Gang Li, “hydrogen is the ultimate clean energy… as long as you have renewable sources of energy to electrolyse the water.”

If successful, the device could be an extremely useful tool in areas where liquid water is not abundant enough to produce hydrogen.

“Large parts of the world have water scarcity problems,” Kevin says. “When you have lots of renewable energy – wind or solar – you [often] don’t have much fresh water for this type of hydrogen production.” Kevin and his team are working hard to finalise this important device, which could be the future of renewable energy.