ARCHIVED MEDIA RELEASE
PA/27/2006 21 November 2006
Australia partner country at Mining Exhibition
Strong participation signals growing mining sector cooperation
Australia will participate in the International Mining and Machinery Exhibition (IMME) 2006 in Kolkata as a partner country. Australia will have a strong presence at IMME with over 40 Australian organisations participating, an indication of the growing links with India in the mining and resources sector.
“India and Australia have a strong and productive partnership on energy and resource issues so I am delighted that this relationship has been recognised with Australia's nomination as Partner Country for the IMME in 2006. We are honoured to be a part of this important event which brings together international expertise in mining equipment, technology and services, " said Mr Ian Macfarlane, Australia’s Minister for Industry, Tourism and Resources, who will be present at the inauguration as a guest of honour.
“Australia has a world class mining sector and Australian mining companies are highly innovative and productive. The strength of Australia's mining industry is reflective of the depth and diversity of the sector and our abundance of natural resources. We are the world's largest exporter of coal, iron ore, lead, diamonds, rutile, zinc and zirconium, and the second largest exporter of gold and uranium. Up to 80 percent of Australia's production is exported and we have a long-standing reputation as a secure, reliable and competitive supplier of these," added Mr Macfarlane.
According to Mr John McCarthy, Australian High Commissioner to India, "Trade in energy and resources are the drivers of the bilateral economic relationship, and this trade has the potential for further significant growth. Gold, for example, is now Australia’s main export to India, and Australia supplies approximately 20 percent of India’s gold market. Australian coking coal fuels the Indian steel industry and Australian companies are involved in the minerals exploration industry in India."
Over 40 Australian organisations have registered to participate in IMME. The Australian delegation will be the largest to have ever exhibited at a mining trade show in India. This will also be the largest mining event that the Australian Government will be participating in globally this year.
Australia has been a leader in the minerals industry for over a century and new methods of mining and mineral beneficiation often originate in the country. Australian miners and their suppliers of equipment, technology and services have made the country the biggest producer in the world of bauxite, alumina, lead and mineral sands. Australian companies exhibiting at IMME 2006 reflect Australia’s role as a world leader in the export of mining and technology services (MTS).
The Australian MTS industry thrives and prospers in the domestic local market, one of the world’s most open and aggressive. More than half the companies in the MTS sector are doing international business, which is a pace setter for Australian industry. Australian exports of mining equipment were estimated to have exceeded USD $1.8 billion last financial year. By 2010 this figure is expected to grow to over USD $4.5 billion. Australian companies are leading the world in e-business solutions for the mining industry and the growing uptake of hi-tech systems in the mining industry could see more than 30 per cent of global mining expenditure over the next three years conducted using e-business. At least 60 per cent of the world’s mines are now operating with Australian made and designed software.
Australia is proud to be a partner country at IMME and has set the stage for Australian participation through a mining mission the week prior to IMME, business matching functions in Delhi and Kolkata, and coal and iron ore mine site visits. Through these efforts, Australia hopes to forge even closer links with India in the sector, strengthening the bilateral economic relations.
For further information, please contact Ms Victoria Walker, Counsellor, Australian High Commission, on 011 4139 9900 (Extn. 196).