Treasurer and Minister for Trade and Investment Curtis Pitt has congratulated an innovative Mackay business on helping the local mining industry improve its bottom line and taking its advanced mining technology to overseas markets.
In Mackay as part of the regional launch of the Queensland Trade and Investment Strategy 2017–2022, Mr Pitt visited Taurus Mining Solutions where he saw first-hand some of the latest innovation in mining excavator buckets, loader buckets and mining truck bodies.
“Taurus is providing a niche service by producing innovative, customised buckets for mines in Central Queensland and has been exporting its intellectual property to Indonesia since 2013 where the tailored products are being manufactured for that market,” Mr Pitt said.
“This business is a fantastic example of how Queensland companies are leading the charge in mining innovation and exporting that innovation, knowledge and skills offshore.
“We are committed to supporting businesses in Mackay by improving their access to overseas markets and in turn revitalise surrounding regional centres.
“Our new $35 million Trade Strategy articulates the Palaszczuk Government’s plan for promoting exports and increasing investment to create jobs right around Queensland.
“Queensland’s regions are attractive growth hubs for SMEs – on average there are 100 small businesses per 1,000 residents in regional Queensland, 15 more than the state average.
“Taurus has many years’ combined experience in mining and this has given them the skills to help mine operators optimise their operations and substantially reduce their operating costs by using Taurus built products that are customised to the mine’s particular operations.
“Trade and Investment Queensland, the government’s global business agency, has been assisting Taurus to explore new markets for their intellectual property, including India and other areas of South East Asia.”
Despite the mining downturn, Taurus reported export revenue well over budget expectations for 2016.
One of the Taurus Directors, David McBryde, said things are improving in the Mackay region and Taurus is certainly looking at new export markets.
“We really think that this year is going to be very good for us across the board given the positive feedback from our customers and the benefits and cost reductions they are seeing with our Taurus bodies and buckets,” Mr McBryde said.
“We’re just concentrating on small steps at this stage to establish confidence in our products in the mining arena and focusing on the Indonesian market but other markets will come into play in the next 12 months.”
Treasurer Curtis Pitt Queensland’s regional centres create important economic opportunities that support local communities as well as the surrounding remote and regional areas.
“Trade delivers jobs, investment and economic growth all of which are vital to advancing Queensland, which is why we are backing this strategy with $35 million for new initiatives over five years,” Mr Pitt said.