A $1.5 million program will help create new export opportunities in India for Australia’s mining equipment, technology and services (METS) companies which will be delivered by Austmine.
Minister for Resources and Water Keith Pitt made the announcement when he visited the Bravus mine in Central Queensland which is now producing coal for export to India.
“The Global Mining Challenge – India will identify key challenges within Indian mining companies and connect them with Australian METS companies which can provide solutions, including technical and operational support,” Pitt said.
“The program will deliver a greater understanding of the Indian mining sector, enabling greater market penetration by Australian METS businesses.
“About 40 Australian METS companies are already active in India.”
Peak industry group for Australia’s METS sector, Austmine, will lead the program.
Austmine has strong links with Indian resource companies and innovative Australian METS businesses already providing solutions globally.
Earlier this month, the Australian Government allocated $5.8 million to the three-year Australia-India Critical Minerals Investment Partnership, following a similar agreement with the Republic of Korea last year.
The partnership is set to unlock mutual benefits for both countries from Australia’s world-leading critical minerals sector.
Pitt said the Global Mining Challenge is an important part of the Government’s Global Resources Strategy and will identify supply opportunities in India, linking them to Australian METS firms.
“The Global Mining Challenge – India complements other partnerships with India, notably the Resources and METS Market Access and Preparedness Program,” he said.
“Together these two initiatives will help assist Australian METS companies to win more business in global supply chains.”
Pitt said Australia’s METS sector supports the nation’s resources and energy industry – the country’s biggest export earner.
“METS exports alone, including technologies and services, are highly sought after and worth about $15 billion every year going to more than 200 countries,” he said.
“The combined Mining-METS sector contributes an estimated 15 per cent to national GDP and supports around 1.1 million jobs.”