Rio Tinto boosts spending with Aussie suppliers to over $16.1B

ASX-listed Rio Tinto has increased its expenditure with suppliers and businesses in Australia to over AUD 16.1 billion in 2023.

The company’s spending witnessed a five per cent surge compared to the previous year, benefiting over 5,800 businesses, including both Australian-owned enterprises and local branches of global corporations.

This substantial investment not only supported tens of thousands of jobs across the nation but also made a significant economic contribution to communities nationwide.

Particularly noteworthy was Rio Tinto’s allocation of more than AUD 727 million to 168 Indigenous businesses, marking a 29 per cent increase from the previous year.

Additionally, spending with local businesses across Australia saw a rise of 25.5 per cent to AUD 1.2 billion.

Kellie Parker, Rio Tinto’s chief executive in Australia, underscored the company’s dedication to fostering local prosperity.

“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,” Parker said.

Parker pointed out the significance of providing opportunities for local enterprises to thrive, thereby generating new jobs and training avenues for Australians while bolstering the nation’s economy.

She expressed pride in Rio Tinto’s achievements in increasing spending with Australian Indigenous businesses by 29 per cent and with local businesses across the country by 25 per cent in 2023.