Minerals Council of Australia chief executive Brendan Pearson said the mining industry is looking forward to working with new Prime Minister, Malcolm Turnbull.
Pearson said the industry needed economic and productivity reform in light of slowing demand and weak commodity prices.
He said Turnbull has the necessary advocacy skills to enhance Australia’s international competitiveness.
"The minerals sector looks forward to working with the new prime minister and his team to craft an ambitious economic reform and productivity agenda," Pearson said.
The MCA said it was pleased Turnbull had signalled he would not change emissions targets or the climate policy set by former Prime Minister Tony Abbott.
Meanwhile, the Australian Petroleum Production & Exploration Association said it would support a renewed focus on economic and regulatory reform which will bolster the sector as it suffers from a fall in oil and gas prices.