November 24, 2015
Australia’s $90 billion Mining, Equipment, Technology and Services (METS) sector – which includes successful advanced manufacturers at its core – is set to further excel with the launch of a new industry growth centre.
The METS Growth Centre, launched on October 28, will be based on the Queensland University of Technology campus in Brisbane.
Known as METS Ignited, the centre’s vision is to lift exports from the sector from the present rate of $15 billion a year to $30 billion by 2030.
The key objective is to drive excellence, not dependence, and create an economy that ensures Australia’s ongoing prosperity.
As the global mining boom winds up, and there are sharp price declines across virtually all hard commodities, mining companies are being forced to cut costs and improve 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.
It forms part of the Federal Government’s $225 million Industry Growth Centres initiative, which aims to lift innovation, competitiveness and productivity by focusing on Australia’s areas of competitive strength.
In launching the centre, Minister for Industry, Innovation and Science Christopher Pyne said the future prosperity of the mining equipment, technology and services sector would depend on its ability to remain globally competitive and seize opportunities.
Growth centre chair Elizabeth Lewis-Gray said the launch was a crucial step in bringing together the skills, innovation and technology embedded within Australia’s mining industry.
“There are around 386,000 highly skilled employees in the METS sector in Australia,” she said.
“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.”