AMEC chief executive Simon Bennison said the new agreement would ensure open dialogue and information exchange between the bodies relating to mining technology, codes of practice, investment, legislation and involve event cross-promotion.

“The MoU is a significant step towards fostering a strong relationship between China and the Australian mining industry,” he said.

“The MoU will be beneficial for AMEC members and is extremely timely given the current market conditions.”

AMEC welcomed China Beijing International Mining Exchange chairman Wu Ruchuan and president Gao Xiang; Song China Beijing Iron Ore Trading Centre Corporation chief executive You Song among the high-profile delegates who attended the signing.

AMEC is the peak industry representative body for mining and mineral exploration in Australia.