Austmine has teamed up the with CRC for the Optimisation of Resource Extraction (CRC ORE) to provide new opportunities for Australian mining equipment, technology, and services (METS) companies.
The partnership provides a framework for collaboration between miners, research and development institutions, and the METS sector to help the industry develop innovative solutions.
CRC Ore chair Jonathon Loraine spoke at the launch of the MoU between the two organisations, stating that with the current challenges facing the mining industry "the next wave of significant productivity improvements will require a whole-of-business system approach”.
Austmine chair Elizabeth Lewis-Grey also welcomed the new MoU.
"This partnership will create opportunities for the Australian METS sector to collaborate with large end-users and globally renowned researchers. Many of our companies are small and medium enterprises which would not otherwise have the capacity to be involved in research and innovation at this scale," Lewis-Grey said.
“The establishment of a mining innovation exchange will ensure Austmine members have access to regularly updated information on the latest technologies under development and the opportunity to commercialise research outcomes. This will support long-term growth in our technology and service export markets”.
Under the agreement "CRC ORE will develop an advanced manufacturing approach for mining; targeting operational inefficiencies, reducing energy use, and enabling economic recovery of lower-grade ore deposits", CRC ORE said in a company statement.
"The approach will generate the business case required to activate numerous latent technologies by defining value in the context of system-wide manufacturing principles. This will stimulate creation and expansion of global markets for METS companies that support the mining sector by delivering productivity improvements made possible through innovation," CRC ORE added.
Major miners such as Rio Tinto, Glencore, and Vale have reportedly signed up to take part of the initiative.