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| Rio Tinto |
Indigenous and Local Businesses Benefit from Increased Investment
Rio Tinto injected $17.7 billion into the Australian economy in 2024, supporting over 6,000 local and national suppliers. This marks a 9.9% increase from 2023 when the mining giant spent $16.1 billion across 5,800 Australian businesses.
The company's spending with local businesses rose 14.8% to $1.3 billion, while expenditure with Australian Indigenous companies surged 27.5% to exceed $926 million. Of this, $671 million was directed to Traditional Owner businesses with which Rio has land use agreements, strengthening regional economies and Indigenous communities.
Kellie Parker, Rio Tinto's CEO for Australia, emphasized the vital role of local suppliers: “From one side of the country to the other, our suppliers – including Indigenous, small, and regional businesses – are at the heart of our success and ability to operate in Australia. Their contributions help keep local communities strong.”
Record Spending in Western Australia and Tax Contributions
Rio Tinto also set a record by spending $10.3 billion on approximately 2,400 Western Australian suppliers, a $1.5 billion increase from 2023. This growth was driven by investments in heavy mining machinery and infrastructure for the $2 billion Western Range mine, set to open in the first half of 2025.
The company’s spending with WA Indigenous companies grew 30% to a record $769 million. In the Pilbara region, where Rio Tinto operates a vast iron ore network, the company contributed $969 million to businesses, with 60% going to Indigenous-owned enterprises. More than $529 million was spent directly with Traditional Owner businesses.
Beyond supplier investments, Rio Tinto paid $13.27 billion in global taxes and royalties in 2024, of which $9.9 billion went to Australia. This included $5.8 billion in corporate tax payments, further reinforcing the company’s economic contribution.
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