28 October 2015
Australia's $90 billion mining equipment, technology and services (METS) sector, providing vital support to the local and global mining industry, can provide significant new productivity improvements to help miners survive and prosper during periods of low commodity prices.
The end of the global mining boom and sharp price declines across virtually all hard commodities is forcing mining companies to cut costs and lift productivity.
Adopting new technologies, finding smarter mining and processing solutions and making these available to the mining industry is the aim of the METS Growth Centre, launched today by Federal Minister for Industry, Innovation and Science, the Hon Christopher Pyne.
The METS Growth Centre is one of several similar initiatives which is the centrepiece of the Federal Government's new industry policy aimed at lifting innovation, competitiveness and productivity by focusing on areas of competitive strength to help Australia transition into smart, high value and export focused industries.
The METS Growth Centre's vision is to lift exports from the sector from the present rate of $A15 billion a year to $A30 billion by 2030.
The key objective is to drive excellence, not dependence and create an economy that ensures Australia's ongoing prosperity.
METS Growth Centre chair, Ms Elizabeth Lewis-Gray, said, â€œThe launch of the METS Growth Centre is a crucial step in bringing together the skills, innovation and technology embedded within Australia's globally renowned mining industry which is the ultimate beneficiary of these advanced research and development projects."
"There are around 386,000 highly skilled employees in the METS sector in Australia. This workforce represents one of the largest and most highly skilled industry groups in Australia, producing leading edge technology and equipment for the mining industry, one of Australia's biggest export earners."
"But the METS sector is largely invisible to the wider public. This METS Growth Centre is aimed at bringing this sector into the mainstream of Australian industry and representing the very best skills and research this country can offer."