Austmine Signs MoU with CRC ORE to Foster Innovations Between METS and Miners
The CRC for the Optimization of Resource Extraction (CRC ORE) and Austmine have announced the launch of a new partnership to deliver the next wave of innovation in mining and create new export opportunities for Australia’s Mining Equipment, Technology and Services (METS) sector.
The partnership provides a framework for collaboration between the mining industry, research institutions and the METS sector to develop the innovative solutions needed to ensure Australia retains its position as a global leader in mining.
Speaking at the launch of partnership and the signing of a Memorandum of Understanding, CRC ORE Chair Jonathan Loraine acknowledged the challenges currently faced by the mining industry and emphasized that “the next wave of significant productivity improvements will require a whole-of-business system approach.”
This is the core focus of CRC ORE. The organization will develop an advanced manufacturing approach for mining; targeting operational inefficiencies, reducing energy use, and enabling economic recovery of lower-grade ore deposits. The approach will generate the business case required to activate numerous latent technologies by defining value in the context of system-wide manufacturing principles. This will stimulate creation and expansion of global markets for METS companies that support the mining sector by delivering productivity improvements made possible through innovation.
Loraine recognized that the participation of Australia’s METS sector would be critical to the success of the CRC. “It is these organizations...that have the skills, expertise and vision to help take innovations from the laboratory to the mine and ultimately to the market.”
As the peak body representing the METS sector, Austmine is at the helm of one of Australia’s most innovative and successful industries. In 2012, the METS sector invested in excess of $1.6 billion in research and development and generated $90 billion in gross annual revenue.
Chair of Austmine Elizabeth Lewis-Gray welcomed the MoU. “Austmine promotes the Australian METS sector globally and encourages the advancement of innovation and technology in mining.
This partnership will create opportunities for the Australian METS sector to collaborate with large end-users and globally renowned researchers. Many of our companies are small and medium enterprises which would not otherwise have the capacity to be involved in research and innovation at this scale.”
“The establishment of a mining innovation exchange will ensure Austmine members have access to regularly updated information on the latest technologies under development and the opportunity to commercialize research outcomes. This will support long-term growth in our technology and service export markets.
Axora launches global challenge for digital technology
Axora is launching the world’s first international competition to discover new cost-saving digital technology for industrial companies, which can produce rapid benefits within a year.
The Metals & Mining and Oil & Gas sectors have recently experienced budget cuts of 20% on average, driven by a variety of factors including the global pandemic, slump in demand and price wars. The Axora Cost-Saving Technology Challenge aims to transform these industries by discovering innovative, digital solutions that reduce cost fast and pay for themselves, whilst achieving the same or improved productivity, health and safety and sustainability standards.
“While digital solutions can help to get work done quicker and more cost-effectively, they typically require a three-year ROI, and if there’s no flexibility in the budget, a full budget planning cycle is needed to get things moving”, said Dr. Nick Mayhew, Chief Commercial Officer, Axora.
“Yet, extra financial cost is often incurred in delaying digital projects, so customers have asked us to highlight solutions that can have an ‘in year payback’ whereby the cost spent on the solution and deployment will be more than recovered within the budget year - this accelerates the timeline and drives positive business impact, quickly.”
The Axora Cost-Saving Technology Challenge
Axora is keen to learn of any digital cost-saving innovation which: meets the 12-month payback timeframe; can be deployed in any part of the value chain including upstream, downstream or midstream oil and gas, metals processing or mining; and is ready for market. The Axora Cost-Saving Technology Challenge is open to entrepreneurs, start-ups, academics and sector leaders across the world. The competition will be judged by a panel of leading industry experts.
“We’re passionate about supporting our industries and customers through all forms of digital transformation and the cost-saving solutions we are searching for could also provide a lifeline to many mining and metals and oil and gas companies in the current economic climate,” added Dr. Mayhew.
Improving productivity, safety and sustainability
Up to ten finalists will be chosen to pitch their solutions at a digital pitch day later this year, after which Axora will validate the ROI models and vet the solutions. The winner will receive the ‘Axora Market Accelerator’ sales and marketing package worth £10,000. This includes a two-hour workshop, promotion through Axora’s thought leadership content and inclusion into its digital demand engines, providing the opportunity for the winning solution to benefit thousands of industrial companies. Entries are open until May 31. Full details of the competition including terms and conditions can be found here.
To learn more about the Axora B2B digital solutions marketplace read our feature in the latest issue of Mining Global magazine.