A major mineral producer was recently applauded for commissioning many big ticket contracts.
Fortescue Metals Group’s (FMG’s) Billion Opportunities program has awarded more than $4 billion in contracts and subcontracts to more than 140 Aboriginal businesses since the year 2011.
During the 2022 financial year alone FMG purchased $452 million worth of goods and services from indigenous-owned businesses. Nearly 90 per cent of this amount was paid to businesses run by native title partners and their members. The group also awarded or extended 32 tenders worth a combined $513M.
This “commitment to providing long-term, sustainable business development opportunities” for Aboriginal businesses was commended at the 2022 AMEC Awards, where FMG won the Aboriginal or Torres Strait Islander empowerment category.
“We strongly believe that procurement is a powerful lever for social and economic change. A strong Aboriginal business sector is best placed to create employment and development opportunities for their communities,” FMG communities, environment and government director Warren Fish said in a public statement.