Rio Tinto spends more than A$16.1 billion with Australian suppliers

(Posted on 15/04/24)

Rio Tinto increased its spend with suppliers and local businesses in Australia to more than A$16.1 billion in 2023, as part of the company’s ongoing commitment to support communities where it operates.

This was an increase of 5 per cent on the previous year and was spent with more than 5,800 businesses, including Australian owned and operated businesses and locally owned and managed branches of global companies. The spend helped support tens of thousands of Australian jobs and delivered a significant economic contribution to communities across the country.

As part of this spend, more than A$727 million was spent with 168 Indigenous businesses across Australia – an increase of 29 per cent on the year before.

There was also a 25.5 per cent increase in spending with local businesses across Australia to A$1.2 billion dollars.

Rio Tinto Chief Executive, Australia, Kellie Parker said, “For Rio Tinto to have a long-term future, we need the communities where we operate to be successful and prosperous.

“We strive to employ locally and buy locally in Australia – especially from Indigenous, small and regional businesses. It's about providing opportunities to help these businesses grow and, in doing so, creating new jobs and training opportunities for many Australians, helping to support the nation's economy.

“We’re proud to have increased our spend with Australian Indigenous businesses by 29 per cent to A$727 million in 2023 and with local businesses around Australia by 25% to A$1.2 billion.”

Rio Tinto also continues to increase its contribution in Western Australia to support local jobs and economies, with the company boosting spending with local businesses near its operations by almost 40 per cent from a year earlier.