The paper by Professor Don Scott-Kemmis, an innovation management and policy consultant and adjunct professor at the University of Technology Sydney, describes the METS sector as an untold success story.
?With sales exceeding $71 billion in 2012 and total employment estimated at around 265,000 people, the rise of the METS sector has multiplied and diversified the benefits Australia derives from its natural resource endowment,? said Scott-Kemmis. ?Export revenues from the sector substantially exceed those of the wine industry and, on some measures, the automotive industry.
?METS sector exports exceed $12 billion and offshore sales (including exports and offshore business) make up over a third of the METS sector?s income, making it one of the most internationalised Australian sectors.
?Surveys indicate that Australia?s METS sector has grown roughly five-fold over the past 15 years so that today there are well over 270 firms, many leaders in their niche.
?Driven by the expansion of mining investment and production both within and outside Australia, the sector has achieved a remarkable level of internationalisation, with the majority of firms having offshore offices or subsidiaries,? said Scott-Kemmis.
The scale and importance of Australia?s METS sector also puts to rest the notion that mining is a low-tech enterprise. Scott-Kemmis argued that the development and growth of Australia?s METS sector has helped spread the benefits of the mining boom across the country, particularly to the domestic manufacturing industry. Many of Australia?s thriving METS companies create thousands of jobs in manufacturing and service industries.
The paper – How about those METS? Leveraging Australia?s mining equipment, technology and services sector – is available at the Minerals Council of Australia website.
Source: Minerals Council of Australia