Mining Equipment, Technology and Services Industry
The Mining Equipment, Technology and Services sector is an important part of the Australian economy. Mining Equipment, Technology and Services businesses can be found all over Australia with metropolitan, regional and remote locations benefiting from revenue, jobs and exports derived from the sector.
The Mining Equipment, Technology and Services sector provides specialised products and solutions for mineral exploration, extraction and mining supply chains. This includes equipment manufacturers; engineering services; mine software products and other related equipment, services and technologies where the primary function is to support the mining and mineral extraction industries.
Mining Equipment, Technology and Services businesses are globally focussed, with over half exporting their products, services or technology to mines around the world.
The Australian Government’s Industry Innovation and Competitiveness Agenda identifies Mining Equipment, Technology and Services as an area of competitive strength for Australia and prioritises it as a growth sector through the Mining Equipment, Technology and Services Industry Growth Centre.
The Department of Industry, Innovation and Science closely engages with industry to address impediments to growth and pursue development opportunities. The Department also works with the industry and research communities to help build a more innovative and globally successful Mining Equipment, Technology and Services industry.
Growing Australian Mining Equipment, Technology and Services
The Mining Equipment, Technology and Services Growth Centre will boost the competitiveness and productivity of Australia’s Mining Equipment, Technology and Services sector by: identifying opportunities to reduce regulatory burden, increasing collaboration and commercialisation, improving capabilities to engage with international markets and global supply chains, and enhancing management and workforce skills. The Growth Centre will put this into action, developing a 10 year strategic plan for the sector.
For further information on the activities of the Growth Centre please visit ww.business.gov.au/industrygrowthcentres
The Entrepreneurs’ Programme offers advice and support to help small and medium businesses to lift their competitiveness and productivity at the firm level through advisory services on areas including: business management; helping small and medium businesses collaborate with the research sector; helping businesses address key challenges in the commercialisation pathway.
The Research and Development (R&D) Tax Incentive provides a targeted tax offset to encourage more companies to engage in research and development in Australia.
An immediate tax deduction for assets purchased by small businesses that cost less than $20,000, up from the previous $1,000 threshold, will help to improve cash flow and reduce the time businesses spend tracking assets. More information is available through the Australian Taxation Office.
The Industry Skills Fund is a $664 million investment by the Australian Government to provide up to 250,000 training places and support services over four years. The Industry Skills Fund helps businesses help themselves to train the skilled workers they need to grow their operation, and includes co-investment for businesses to improve skills for identified market growth opportunities.
Austrade advances Australia’s international trade and investment and provides advice and services to business on investment attraction and exporting.
The Export Finance and Insurance Corporation (EFIC) is an export credit agency, operating on a commercial basis and partnering with banks to provide financial solutions for small and medium businesses that export, and companies that are in an export supply chain, looking to expand their business operations overseas or operating in emerging and frontier markets.
CSIRO offers science and innovation support with its Mineral Resources program including advanced mining, and mineral discovery and exploration and the Queensland Centre for Advanced Technologies (QCAT) which is an integrated research and development precinct for the resources and advanced technology industries.
Further information on how the Australian Government is assisting business can be found at business.gov.au
Mining Equipment, Technology and Services
Strategic Growth Policy Division
Department of Industry, Innovation and Science
GPO Box 9839
CANBERRA ACT 2601
Phone: +61 2 6213 6703