Mining equipment is the backbone of our mining industry, but despite its importance to our economy, it’s also at risk of being obsolete by the end of the century.
The mining industry is experiencing a surge in demand for its equipment, which is why the Government is investing in equipment to keep pace with demand.
A new industry-wide equipment package, the Industry Infrastructure and Services Facility, will help companies like M2, who are currently using old mining equipment, to transition to modern equipment.
The package includes new equipment to meet the needs of mines and other industries and will also support the Australian Chamber of Mines’ (ACM) plans to move to an entirely new industry that it describes as ‘the new digital age’.
“The government is investing $7 billion in new equipment, including the installation of new power lines, lighting and communications equipment,” said Industry Minister Christopher Pyne.
“This will provide better reliability, better security, more predictable service and make it easier for mining operations to run at the same time.”
“The Government’s investments will create thousands of jobs in the mining sector and create up to 15,000 permanent construction jobs.”
The mining sector is also investing $3 billion in technology and research and development in order to develop new mining equipment.
“This is a critical investment that will help us to remain competitive in the global mining market, which will support our mining workforce, and enable our country to continue to provide an economic benefit to Australians,” Mr Pyne said.