Latin American resources companies’ search for lower costs and greater efficiency could provide opportunities for Victorian suppliers of mining equipment, technology and services (METS), according to the latest news on Export Victoria.
Lima Austrade’s Trade Commissioner Daniel Havas said that Latin America’s outlook for resources remained strong on the back of strong demand from China but its miners are now eager to incorporate innovative practices and technology to improve productivity.
According to the commissioner, mining companies are focusing on boosting yields to increase profitability amid increased competition as well as reducing commodity prices, highlighting the emphasis on productivity gains.
Havas believes Australian METS firms are world class and are already delivering a strong return on investment for mining companies in the region.
“It’s a very good fit,” he said.
METS companies have been a key component of Australia’s high resources productivity levels, and many firms in the sector have taken part in Austrade-hosted pavilions across a series of trade conferences in Latin America in 2013, providing a platform on which to showcase their capabilities and an opportunity to learn more about Latin American markets.
Victorian companies will join major players in Chile’s mining industry as they learn about the latest Australian technology and services in the Australia Pavilion for Expomin, the first in the annual series of Latin America’s trade conferences.
Exhibitors in the Australia Pavilion can take part in briefings with senior executives from major mining companies, including representatives from Antofagasta Minerals, BHP Billiton and Codelco.
Victorian companies in mining education, consulting and engineering, mine site productivity, desalination and water reuse are encouraged to apply for Expomin before the deadline on 15 November 2013.
The conference, held in Chile, has more than US$100 billion worth of new mining projects coming up over the next 10 years. Australia also enjoys a Free Trade Agreement and a Double-Taxation Agreement with the South American country.