Labor promises $16m mining industry partnership

Brisbane would be the base for a $16 million mining industry innovation partnership if Labor wins the federal election on September 7.

The eleventh partnership is part of a $500 million plan revealed at the beginning of the election campaign.

Industry and research partners would equal Labor’s $16 million funding with cash or in-kind, the SMH reported.

The funding begins in 2016-17, Rudd said in a statement.

“With the China mining investment boom winding down, Australia needs to build a modern and diverse economy that forges new industries and new jobs,” the statement said.

“The mining equipment, technology and services sector contributes 2.7 per cent to the Australian economy and is one of Australia’s largest export and fastest growing sectors.”

Under the proposal, Labor would gather the Queensland University of Technology, Austmine Ltd, Brisbane Marketing, the CSIRO, the Centre for Mining Technology, University of Queensland and the Australian Industry Group for the Brisbane industry innovation plan.

The projects will vary from $100,000 per year to $10 million to employ people.

The Brisbane City Council also put forward the proposal in 2012 and said mining services and mining equipment jobs have huge job growth potential.

“It is estimated that the Queensland resource sector contributes around $25 billion each year to the Brisbane economy,” the Brisbane City Council economic development plan said.

“For every direct job created in mining, a further 19 jobs are created across greater Brisbane in the services that support the mining industry workers.”

“While direct exports of resource products are small out of Brisbane, activities related to the resource sector will drive growth in industries such as business services (exporting mining-related services such as engineering and project management), transport (fly-in, fly-out) and in manufacturing (equipment for the resource sector).”

Prime Minister Kevin Rudd introduced the Resources Super Tax in 2010 before being ousted from his post by Julia Gillard.

He had said a 40 per cent tax on mining company profits was “about right”, but had said he is open to negotiation with miners regarding the tax.

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