PERTH (miningweekly.com) – The federal government on Tuesday announced a A$74-million investment to boost resource extraction research and to support innovative manufacturing through the funding of two cooperative research centres (CRCs).

Industry and Science Minister Ian Macfarlane on Tuesday stated that the CRC for optimising resource extraction (CRC ORE) would receive A$34.45-million to fund its ongoing activities to improve the efficiency and cost effectiveness of the mineral extraction sector. The funds would be released between now and June 2021.

The new CRC for Innovative Manufacturing (IM CRC) would receive A$40-million over seven years, to June 2022, to assist Australian manufacturers to transition to high-value internationally competitive manufacturing.

Speaking in Canberra, Macfarlane said the CRCs would continue to be an important asset for driving greater collaboration between industry and research.

“CRCs are a highly successful way of bringing industry and research organisations together to apply the latest research knowledge to the real-world problems facing industry.”

“More than 60 organisations, including multinationals, small- and medium-sized enterprises and peak industry bodies, will be involved in these CRCs. They will bring together a wide range of skills and knowledge, as well as financial support, to increase productivity in their sectors.”

Macfarlane said that the CRCs would work closely with the new Industry Growth Centres to address common goals and priorities, ensuring an integrated approach to overcoming challenges and developing market opportunities for local businesses.

“The Australian government has put science at the centre of industry policy through the range of measures in the Industry Innovation and Competitiveness Agenda.

“Along with Industry Growth Centres, which focus on the areas in which Australia has a competitive edge, CRCs will drive productivity, innovation and collaboration gains, and identify commercial opportunities to exploit global markets and generate new jobs.”

The CRC ORE, headquartered in Brisbane, would develop Australia’s mining services sector by targeting operational inefficiencies, enabling the recovery of lower-grade ore deposits in an energy and cost effective way. This approach would diversify benefits from Australia’s natural resources by increasing the capacity and market opportunities for local businesses.

The IM CRC, headquartered in Melbourne, would be established to develop knowledge-intensive competitive industries in areas of global growth, including additive manufacturing, lightweight robotics and medical devices.

The CRC would work with the Advanced Manufacturing Growth Centre to assist Australian manufacturers to transition from traditional manufacturing to knowledge-intensive, internationally-competitive activities.

The government is investing more than A$731-million over five years for the CRCs to continue their diverse range of research.

Since 1991, the government has committed more than A$4-billion in funding to the CRC programme and supported over 200 CRCs.