METS companies receive $7.14M in funding

METS companies receive $7.14M in funding

Australian Minister for Jobs and Innovation Senator the Hon Michaelia Cash has announced eight Mining Equipment Technology and Services (METS) companies as the recipients of $7.14M in innovation funding from METS Ignited Collaborative Project Funds.

The eight recipients of the funding will now be able to launch 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.

The funding is part of a four-year, $15.6m commitment made by the Department of Industry, Innovation and Science to incentivise collaboration and address METS sector priorities.

The announcement represents the second round of the funding, and the recipients are: IMDEX, The University of Western Australia, Manufacturing Intelligence, Emapper, Energetique Mining Vehicles, Qtec, Resolution Systems and Micronised Mineral Systems.

METS Ignited CEO Ric Gros said the funding will spur necessary collaboration in the sector.

“Opportunities for the sector to band together and innovate are vital to the growth of the sector,” Mr Gros said.

“Facilitating such innovation is part of the mandate for METS Ignited, and the recipients of this round will be making invaluable contributions to the mining and METS sectors through their initiatives.”

Recipients of the Collaborative Project Funds are required to secure equal or greater investment from an industry partner. As a result, the total value of the eight projects is $17.4m.

The largest share of the funding ­­– $2m – was awarded to Resolution Systems – a South Australian-based business conducting a project to develop software that will increase the efficiency of mine truck fleets.

Other projects that received funding in this round include: technology testing facilities; battery-powered vehicles for underground mining; data acquisition software for environmental rehabilitaton and drilling; and a new process for water treatment.

Collectively, the projects will benefit the mining sector by optimising the value chain, increasing productivity for mining and mineral processing, supporting and enhancing environmental management, and improving operational safety.

For METS companies interested in launching collaborative and innovative projects, applications are currently open for the third round of the Collaborative Project Funds and will remain open until 31 August 2018.