The plan is being led by mining group Ausdrill Ltd and vocational training provider Site Group International, and will also target migrants looking for work in WA.

The proponents have approached both industry and government for approval and hope the college could be open by the end of this year.

Site Group executive chairman Vern Wills said the college would be industry-driven and would co-exist with the agricultural college, which has been in limbo since Curtin University withdrew its support in 2010.

It is hoped more than 5,000 students will be trained each year.

"It's a solution to help augment the supply of skilled labour in areas of skilled shortages. It creates pathways for those looking to enter the mining industry," Mr Wills said.

He said the centre, which would specialise in areas such as machinery and plant operating, would be open to new students, workers looking to upskill and foreign workers.

The proposal has the support of Nationals MPs Max Trenorden and Phillip Gardiner, who recently toured the site, 100 kilometres east of Perth.

Mr Gardiner said the centre should be independently operated, with industry to decide which courses to run.

"I think this will inject focus and a renewed passion in bringing about what Muresk was capable of," he said.

He said the dual focus of agriculture and mining would be ideal for the campus.

Muresk Old Collegians Association president Floyd Sullivan said his group would be happy to share the campus, provided agricultural education was the number one priority.

"There is nobody studying agriculture, and it's a very important industry. We welcome (the mining industry), but tertiary, agricultural education needs to come first," he said.

He said a large investment was needed to rejuvenate the college, which has been operating for 85 years.