The Minerals Council of Australia (MCA) has called on Indigenous business and governments to consider equity frameworks alongside procurement frameworks.
At the annual Aboriginal Enterprises in Mining, Energy and Exploration (AEMEE) conference in Darwin, Indigenous businesses were described as being at a “crossroads”, which required the resources industry to lean in with partnerships, investments, and other opportunities to write the next chapter.
A conference speech by MCA principal adviser of Indigenous partnerships and communities Matt Denyer highlighted that in 2024-25, total reportable Indigenous-business procurement reached $5.83 billion across Australia – with the mining sector accounting for 28 per cent of the total ($1.64 billion).
Despite gains made in Indigenous procurement across the mining sector, Denyer – a Gomeroi man – said the industry needed to “look further” – beyond simply awarding contracts.
“But we are at a crossroads, and the time is to look further. We know that participation alone isn’t power, and visibility isn’t value. The next chapter is about ownership, equity and intergenerational prosperity. It is about Indigenous enterprises not just being a part of someone else’s story but co-owners of its future,” Denyer said.
“We have only one Indigenous-led mine, no Indigenous-owned minerals processing facilities and no Indigenous capital funds capturing meaningful shares of that value,” he said.
“That gap is risk, because while resource value flows, its legacy flows elsewhere. It means participation without equity and dependency — not independence.”
According to the MCA, more needs to be done to ensure trust is built with the people and communities mining companies partner with.
“If Indigenous businesses were to capitalise on a stake of just one per cent of the total mining export value, that is approximately $4 billion a year from co-ownership in one industry, on top of ever-increasing procurement opportunities,” Denyer said.
“Projects with genuine Indigenous equity and leadership have lower risk, stronger social licence and longer lifespans for scalable Indigenous enterprises.
“We must align our strategy with Indigenous enterprise ownership, not only because it’s the right thing, but because it’s the only thing that will deliver the future we all want.”
Members of the MCA – including BHP and Rio Tinto – are said to directly employ around 6000 Aboriginal and Torres Strait Islander people.
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