Rio Tinto spends more than A$15.3 billion with Australian suppliers

Rhea-AI Summary

Rio Tinto increased its spend with Australian suppliers to over A$15.3 billion in 2022, a nearly 9% rise from the previous year. This investment supported more than 6,200 businesses, contributing to tens of thousands of Australian jobs. Notably, spending with Indigenous businesses rose by 40% to over A$565 million. Chief Executive Kellie Parker emphasized the commitment to local and Indigenous businesses, highlighting that the company aims to enhance its engagement in this area. Overall, Rio Tinto's global supplier spending reached US$22.5 billion, up from US$19.8 billion in 2021.

Positive

• Increased spending with Australian suppliers to A$15.3 billion in 2022, up 9%.
• Support of over 6,200 businesses led to tens of thousands of jobs in Australia.
• Spending with Indigenous businesses rose by 40% to A$565 million.
• Global supplier spend increased to US$22.5 billion from US$19.8 billion.

Negative

• None.

MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part of the company’s ongoing commitment to support communities where it operates.

This was an increase of almost 9 per cent on the previous year and was spent with more than 6,200 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$565 million was spent with Indigenous businesses across Australia – an increase of 40 per cent on the year before.

Rio Tinto Chief Executive, Australia, Kellie Parker said, “Supporting local businesses in the communities where we operate is a key priority for Rio Tinto.

We strive to employ local people, buy local products and engage local services – especially from Indigenous, small and regional businesses.

We are working hard to improve our approach to Indigenous business development and engagement in Australia, and while there is still more work to do, last year we significantly increased our spend with Indigenous suppliers.

We couldn’t do what we do without our local supplier partners and having good relationships with them helps us find better ways to provide the materials the world needs and innovate to decarbonise our operations.”

Notes to the editors

Rio Tinto engages with more than 20,000 suppliers globally.

In 2022, Rio Tinto increased its global spend with suppliers to US$22.5 billion, up from US$19.8 billion in 2021.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005443/en/

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Rio Tinto plc

6 St James’s Square

London SW1Y 4AD

United Kingdom

T +44 20 7781 2000

Registered in England

No. 719885

Rio Tinto Limited

Level 43, 120 Collins Street

Melbourne 3000

Australia

T +61 3 9283 3333

Registered in Australia

ABN 96 004 458 404

riotinto.com

Category - General

Source: Rio Tinto

FAQ

What was Rio Tinto's spending with Australian suppliers in 2022?

Rio Tinto spent over A$15.3 billion with Australian suppliers in 2022.

How much did Rio Tinto increase its spending with Indigenous businesses in 2022?

Rio Tinto increased its spending with Indigenous businesses by 40% to over A$565 million.

What was the total global supplier spending for Rio Tinto in 2022?

Rio Tinto's total global supplier spending reached US$22.5 billion in 2022.

How many businesses did Rio Tinto support with its spending in Australia?

Rio Tinto supported over 6,200 businesses in Australia.

What percentage increase did Rio Tinto see in its Australian supplier spending?

Rio Tinto saw a nearly 9% increase in its Australian supplier spending.