Queensland METS sector receives government funding boost

The Queensland Government has provided a $2.7 million investment in the state’s mining, equipment, technology and services (METS) sector, particularly in the Mackay region.

The funds will support six key actions aimed to boost the sector, and will be done in conjunction with independent Australian Industry Growth Centre, METS Ignited.

“Finding new ways to take innovative ideas to market quickly is key to ensuring Queensland’s world-class METS sector can grow and remain sustainable and competitive over the long term, both at home and abroad,” state development minister and minister for natural resources and mines, Anthony Lynham, said.

“Increasing collaboration between miners, METS companies and researchers is vital to improving our rate and speed of converting great ideas into dollars.”

Lynham added that the METS sector contributes $21 billion to the state’s gross revenue and has potential for growth both domestically and internationally.

“Queensland METS’ companies are international market leaders in exploration, mine design and construction, mine safety, social licence and management, minerals processing, remediation and rehabilitation,” he said.

“The sector’s long record of developing innovative solutions to the challenges faced by Bowen Basin miners has also seen their innovations applied overseas and in other sectors, including agriculture and construction. Much of that innovation has come directly from METS companies based in Paget and the Mackay Region”

The six actions include piloting a technology accelerator to increase the commercialisation of new technologies by Mackay companies that attract industry investment; identifying energy and resources testing facilities; increasing METS industry collaboration between companies in Mackay; funding a project that is expected to create business opportunities for Mackay METS companies; developing managerial skills, business models and industry development interventions that support Mackay METS companies; and developing baseline data that measures the amount of collaboration occurring within the METS sector.

This investment also comes amid the state government’s plan to release the METS sector Roadmap and Action plan later this year.

The plan aims to align with the national METS Sector Competitiveness Plan which provides a 10-year roadmap for the sector, identifying challenges and opportunities to increase its global competitiveness.

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