Rio Tinto commits A$250 million to support Western Australian communities

Rhea-AI Summary

Rio Tinto is investing A$250 million in Western Australia's new Resources Community Investment Initiative, aiming to enhance community infrastructure over the next 10 years. This initiative, announced by Premier Mark McGowan, allows resource companies to contribute to projects in key areas like education, health, and energy decarbonisation. An advisory committee will oversee the initiative, ensuring alignment with community needs. In addition, Rio Tinto reported a 53% increase in global social investments to $72 million in 2021, indicating commitment to positive social outcomes.

Positive

• Investment of A$250 million to improve community infrastructure.
• Commitment to long-term social and economic outcomes in education, health, and decarbonisation.
• Formation of an advisory committee for project oversight.
• 53% increase in global social investments, reaching $72 million.

Negative

• None.

PERTH, Australia--(BUSINESS WIRE)-- Rio Tinto is building on its more than 50 years of work to help create thriving and resilient communities across Western Australia with a A$250 million commitment to the State Government’s new Resources Community Investment Initiative.

The initiative announced by Western Australian Premier Mark McGowan MLA today provides a platform for direct contributions from resources companies to iconic infrastructure projects in the community that will make Western Australia an even better place to live.

An initial pipeline of projects has already been identified. Rio Tinto and the Western Australian Government will work together to further define the projects that Rio Tinto will contribute funding towards over the next 10 years.

This initiative will include projects that contribute to the long-term social and economic outcomes in areas such as education and training, health, Aboriginal wellbeing and energy decarbonisation.

Rio Tinto Iron Ore Chief Executive Simon Trott, said “This initiative is a great example of Government and industry working together to support critical projects that will enable our community to prosper for generations to come.

“We want to leave a lasting, positive legacy wherever we operate, and this initiative will build on our more than 50 years of work helping to create thriving and resilient communities across Western Australia."

An advisory committee, comprising an independent chair as well as government and industry representatives, will be convened to oversee this exciting initiative.

WA Premier Mark McGowan, said “I applaud Rio Tinto for their contribution and leadership as a founding partner of this important initiative, which will have lasting benefits for generations.

“I’m looking forward to seeing some iconic State projects delivered, with the continued support of Rio Tinto.

“With our State’s strong economic position, we’re in the ideal position to set ourselves up for the long-term and make Western Australia an even better place to live.”

For more information, visit WA.gov.au/rcii.

Note to editors:
Through community and social investment, Rio Tinto seeks to deliver positive, measurable social outcomes and support communities to achieve their goals and aspirations. Our total voluntary global social investments were $72 million, covering health, education, environment, agricultural and business development programmes. This is an increase of approximately 53 percent on 2020 voluntary social investment spend.

Earlier this year Rio Tinto committed A$75 million across 10 years to renew its partnerships with the Shire of Ashburton and the City of Karratha to continue the delivery of a range of important community projects across the two regions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221121005986/en/

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FAQ

What is Rio Tinto's recent investment for Western Australia?

Rio Tinto is investing A$250 million in the Resources Community Investment Initiative to support community infrastructure projects.

How long will the investment by Rio Tinto last?

The investment will be made over the next 10 years.

What key areas will Rio Tinto's investment focus on?

The investment will focus on education, health, Aboriginal wellbeing, and energy decarbonisation.

What was the increase in Rio Tinto's global social investments?

Rio Tinto reported a 53% increase in global social investments, totaling $72 million.

Who announced the Resources Community Investment Initiative?

The initiative was announced by Premier Mark McGowan of Western Australia.