Australian mining industry cautioned to protect their assets

The Australian mining industry is exposing themselves to the unnecessary risk of losing multi-million dollar assets, according to leading legal experts. Despite only taking several minutes online, and costing less than the morning newspaper and cup of coffee, many Australian businesses are failing to protect their legal rights of ownership.

The Personal Properties Securities Register (PPSR), a single national registry, allows businesses to protect their legal stake in personal property. Personal property takes on many forms from cranes, scaffolding, inventory, plant and equipment (such as excavators and graders), to machinery and is often most at risk when provided under a leasing or consignment agreement.

But despite the ease, low cost, and importance of registering an interest, Australian businesses risk derailing their entire business by failing to do so, according to GlobalX Legal Solutions.

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