AMSJ » Industry Growth Centre awards $4.1m in project funding

Industry Growth Centre awards $4.1m in project funding

Karen andres grants METS projects funding mineral sector
A range of projects have been granted funding under the federal government's METS program

The mining sector and a range of mineral technologies suppliers have been provided with a range of funding under the federal government METS sector grants.

The Federal Minister for Industry, Science and Technology, announced seven mining supply businesses as the recipients of $4.1m in innovation funding from mining equipment, technology and services (METS) Industry Growth Centre, METS Ignited.

The recipients of the funding will now be able to launch eight collaborative industry projects that will deliver highly-advanced solutions to a variety of mining challenges and contribute to the growth and capability of the METS sector.

This funding is part of a four-year, $15.6m commitment made by the Australian Government to incentivise collaboration and address METS sector priorities. The funding established the METS Ignited Collaborative Project Funds, which support industry-led projects to improve the productivity, competitiveness and innovative capacity in the METS sector.

Today’s announcement at Mineral Technologies on the Gold Coast represents the third tranche of the funding. METS Ignited received 26 grant applications and has awarded the funds to businesses specialising largely in robotics and automation, data analytics, data platforms, internet of things and business and professional services. The recipients are: Mineral Technologies, Premron, Austmine, Roobuck, Process IQ, AMOG (x2) and Magotgeaux.

Acting CEO of METS Ignited, Ian Dover, says the funding will spur necessary collaboration in the sector and drive the development of technologies that will be vital for the future of the mining sector.

“Active collaboration across the ecosystem is core to accelerating commercialisation of innovation and has been lacking in the METS and mining sector, where historically relationships have been in the main transactional,” says Dover.

“Facilitating such innovation is part of the mandate for METS Ignited. It’s vital we support the application of influential future technologies across the METS sector and maintain Australia’s competitiveness.

“More than 50 per cent of specialised METS companies are exporters. If a METS company’s innovation can benefit an Australian mining project it is virtually guaranteed global interest.”

Other current innovative projects in the mining sector include mining water on the moon’s surface to produce rocket fuel.

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