Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Rio Tinto Spends Record AU$10.3 Billion with Western Australian Suppliers in 2024

by admin April 12, 2025
April 12, 2025
Rio Tinto Spends Record AU$10.3 Billion with Western Australian Suppliers in 2024

Major miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO)reported total spending of AU$10.3 billion with Western Australian suppliers in 2024, marking a new record for the company.

The commodities giant boosted its spending with suppliers in the state by AU$1.5 billion for the year in a bid to support local businesses continuously and grow its Pilbara mining portfolio.

Since 2018, the company has worked with around 2,400 suppliers in Western Australia annually. Its annual spend with suppliers has more than doubled over the past six years.

“Rio Tinto has been in Western Australia for almost 60 years, and we remain committed to sharing our success with the communities where we operate,” said Rio Tinto Iron Ore Chief Executive Simon Trott.

He added that partnering with local businesses allows the company to help create jobs and strengthen regional communities, all while providing benefits and sponsorship to small to large business owners.

Rio Tinto is also prioritising Indigenous-owned businesses in the state. Its spending with Indigenous-owned businesses in 2024 reached AU$769 million, 30 percent more than the recorded amount in 2023. Pilbara businesses received AU$969 million from Rio Tinto, with 60 percent of this going to Indigenous-owned businesses in the region.

Rio Tinto has attributed the spending increase to its project developments in the state, including heavy mining machinery and earthworks for its US$2 billion Western Range mine.

Located in Pilbara 10 kilometres southeast of Paraburdoo, the Western Range mine is expected to produce 25 million tonnes of iron ore annually. It is scheduled to open and complete its first production this year.

The company received approval for its US$1.8 billion Brockman Syncline 1 project this month, allowing it to sustain production and support for Western Australian businesses moving forward.

Rio Tinto owns a portfolio of large iron ore assets in the Pilbara. The company had produced 327.9 million tonnes of iron ore at these operations as of 2023, employing around 16,000 people across its projects.

A total of 17 mines, four independent port terminals, a rail network spanning nearly 2,000 kilometres and related infrastructure are held by Rio Tinto in the region. These assets help it maintain its reputation in the global iron ore industry.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Crypto Market Recap: Trump Signs First Crypto Bill, SEC Issues Crypto Guidance
next post
CNN Fear and Greed Index Plunges to Lowest in Five Years — What it Means for Global Markets

Related Posts

West High YieldResources Ltd. Announces Amended Permit Submission

September 20, 2024

Cobalt Market Update: Q2 2024 in Review

July 30, 2024

Metals & Mining Virtual Investor Conference: Presentations Now...

July 26, 2025

Uranium and Gold Explorer Piche to Commence Trading...

July 17, 2024

Total Finland Gold Resources Increase to 961,800oz AuEq

May 29, 2025

10 Top Countries for Magnesite Mining (Updated 2024)

May 10, 2024

RHI: Acqn of royalty over Sandstone Gold Project...

April 28, 2025

MAC President Calls for Renewed Investment, Streamlined Approvals...

September 24, 2024

December Quarterly Appendix 4C

January 31, 2025

US Plans to Triple Nuclear Power Capacity by...

November 16, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Karine Jean-Pierre arrives for House Oversight grilling in Biden autopen probe

      September 13, 2025
    • Top conservative speakers vow they ‘will not be silenced’ after Charlie Kirk’s assassination

      September 13, 2025
    • Engravings on shooter’s ammo exposes Charlie Kirk assassination motive

      September 13, 2025
    • ‘This is on all of us’: Lawmakers take hard look at how political rhetoric played role in Kirk’s assassination

      September 13, 2025
    • Karine Jean-Pierre says Biden health talking points were tightly controlled at senior level

      September 13, 2025

    Categories

    • Business (1,104)
    • Investing (3,028)
    • Politics (3,699)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved