Rio Tinto Sets Record with A$17.7 Billion Boost to Australian Suppliers
In a significant commitment to supporting Australian businesses, Rio Tinto’s spending soared to over A$17.7 billion in 2024, an impressive 9.9% increase from the previous year.
This substantial investment benefited over 6,000 suppliers nationwide, significantly boosting local, regional, and national economies.
Empowering Indigenous Communities
Central to Rio Tinto’s strategy was a notable increase in engagement with Indigenous enterprises. Spending in this area climbed to over A$926 million, benefiting 182 Indigenous-owned businesses—representing a remarkable 27% rise from 2023.
Of this sum, A$671 million directly supported Traditional Owner businesses involved in land-use agreements, fostering direct economic benefits in communities where Rio Tinto operates.
Supporting Local and Regional Businesses
Rio Tinto also amplified its spending with local suppliers, reaching A$1.3 billion in 2024—a 14.8% growth from the previous year.
This investment has helped bolster regional economies, sustain local employment, and promote business resilience.
Commitment from Rio Tinto’s Leadership
Kellie Parker, Rio Tinto Chief Executive for Australia, underscored the vital role of suppliers in the company’s operational success and community strength: “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.”
Parker also emphasised the strategic importance of investing locally: “We recognise the important role these Australian businesses play in creating jobs, strengthening local economies and supporting our operations. That’s why we continue to increase our investment with them.”
Economic Impacts and Future Outlook
Rio Tinto’s increased spending not only demonstrates corporate responsibility but also stimulates broader economic resilience.
This strategic investment underlines a clear commitment to sustainable economic growth, benefiting diverse Australian communities and setting a positive outlook for continued economic partnerships in the future.
