WA govt says program has netted $20m for mining and other suppliers

Latest News

• MinRex Resources actively explores kilometers from $1.1bn Silver Lake
• Rio Tinto not ‘complacent’ in battling coronavirus spread
• Australia among top countries for mining and metals industry M&A deals
• Fortescue on track to maintain guidance despite coronavirus restrictions

The WA Coalition government has credited its Industry Facilitation and Support Program with the awarding millions of dollars in contracts to suppliers to the state's mining sector.

The IFSP, part of the Local Industry Participation Framework, has so far received 120 applications and awarded $2.5 million “for a diverse range of projects, including the purchase of capital equipment, quality assurance, training, health and safety standards, accreditation and upgrades to business systems,” said commerce minister Simon O’Brien in a statement.

Grants are worth up to $20,000 and available to SMEs providing goods, services or works to companies for mining; resource processing; gas, water or power supply; mining infrastructure construction and state government agencies.

“Early stage monitoring of the program indicates that a number of companies had already won resource contracts worth more than $20million – due directly to the financial support received through the program,” claimed O’Brien.

The next round of funding is currently open, with applications available here.

Australian Mining reported earlier this month that despite its earlier reservations about local content rules for miners, the WA government hailed local content regulation as leading to Fortescue reporting 96 per cent local content and Rio Tinto 85 per cent at their Chichester expansion and Pilbara projects respectively.

The minister for regional development, Brendon Grylls, has encouraged SMEs seeking grants to attend IFSP briefings for the next round of funding.

“These briefings allow staff and managers in regional companies to find out how to supply to major markets including resource projects – here and overseas – and to the Government,” said Grylls.