Mining Suppliers: Industry submissions sought – Parliamentary Inquiry into extended payment terms

The Mining and Energy Services Council of Australia (MESCA)  welcomes the announcement of a Federal Government Parliamentary Inquiry into Mining Industry Support for Regional Businesses that will look at payment terms offered to suppliers. The  inquiry will look at a range of issues affecting business in mining regions including the payment terms offered by mining businesses and barriers to involvement in mining industry procurement processes.

MESCA national manager Alex Stanojevic said the inquiry offered an excellent opportunity for suppliers impacted by payment terms to showcase how the current arrangements affect their businesses.  “Whilst some suppliers may be able to cope with the current arrangements I believe that there are many who would like to see the conditions reviewed and impacts to their cash flow minimised,” Mr Stanojevic said.   “Now is the time for suppliers to respond to the inquiry and directly let the Minister know the full extent of this issue.”

Submissions can be made confidentially and MESCA is encouraging members and wider industry stakeholders  to lodge submissions by 10 August.