Studying - QMM

Social & Economic Development 

$6.9B

Corporate tax paid

$2.7B

Spent with local suppliers – 14.5% of total contestable spend

$62.6M

Community investment

$229M

Paid to landowners

$6.0B

Paid in employment costs

$18.2M

Paid in development contributions

2022 figures

We work hard to leave a lasting, positive legacy everywhere we work. Our long-term economic contribution is one way we do this. We also support local communities to thrive and become more resilient over the long term.

Our economic contribution includes the taxes paid to local and national governments, dividends to shareholders, the direct and indirect employment we create, procurement opportunities and investment in community programmes. Our payments to suppliers form a significant part of our global economic contribution, and our impact on regional economic development.

Paying our fair share

We are committed to paying our fair share of tax, and reporting what we pay transparently. We also support transparency and accountability in the way taxes and royalties are used. One way we do this is by making our minerals development contracts with governments publicly available, so everyone can see exactly what our contribution is, which in turn lets people see how much money (in the form of taxes, royalties, dividends) will flow from our projects to various governments.

2022

Taxes Paid Report

Taxes Paid Report 2022
PDF
1.76 MB

We also make targeted investments in partnership with others that help communities to thrive long after our operations close. In 2021, we contributed more than $72 million to community programmes covering health, community infrastructure and services, education, environmental protection,  agricultural and business development sectors.

We strive to employ local people, buy local products and engage local services, and we have targets reflecting this at each of our operations. We also invest in establishing and supporting new supply chains by educating and training people in local communities, with a strong focus on engaging young people, women and Indigenous peoples. In Australia, for example, we have partnered with the Gumatj Corporation and the Northern Territory and Australian governments to establish the Gulkula Regional Training Centre, which offers on-the-job learning opportunities for local Yolngu people. We also support the first 100% Indigenous owned and operated Gulkula mine in the Northern Territory, through buying and exporting the bauxite from the mine.

Hands scooping up red soil

We will not replace the State but acknowledge that we have a role in promoting and supporting long-lasting regional economic development, which requires dialogue and coordination with other stakeholders, including governments, civil society, communities and businesses beyond our own. We are working to strengthen our contribution towards the Sustainable Development Goals.

One example of this is in Mongolia, where our Oyu Tolgoi mine is partnering with the Wildlife Conservation Society, Stanford University, the US National Aeronautics and Space Administration (NASA) and luxury group Kering to implement the Sustainable Cashmere Project. This initiative aims to increase and diversify local herder incomes through improving access to new markets and providing technical and financial support to improve grazing, husbandry and environmental practices.

We support the diversification of local economies. In Madagascar, our QIT Madagascar Minerals team provides funding for equipment and business skills training to support a local agricultural co-operative. Initiatives like these create diverse local economies and help our communities become better off, beyond the life of our projects and operations.

Gove, East Arnhem Land, Australia

A big deal for a small town

When the Gove Alumina Refinery in North East Arnhem Land was curtailed in 2014 we wanted to find a way to help support the local community and stimulate economic growth outside the mining sector.

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So, along with the Northern Territory Government, we injected $2 million in seed funding into Developing East Arnhem Land (DEAL), an independent, not-for-profit company that provides funding to help local entrepreneurs expand their businesses. 

Since its inception DEAL has supported local projects across the tourism, health, retail, marine services, education and training, construction and hospitality industries. It has helped stabilise the population, which is essential to maintaining critical local services like health and education, as well as generate new jobs and support growth in Indigenous eco-tourism.

DEAL is an example of the kind of partnerships we form with governments and other organisations to help build sustainable communities, and is also now being considered by other communities across Australia and internationally.

 

Contributing to a “new economy” in Quebec

In Quebec, Canada, our programme focuses on economic diversification, support to equipment manufacturers, aluminium transformation and innovation. A decade ago, to address potential impacts of the closure of our Shawinigan aluminium smelter, we engaged with regional stakeholders to explore options for pre-closure investment. Regional stakeholders decided to focus on energy efficiency and renewable energy as promising sectors for attracting new businesses and people to the area.

So in partnership with Hydro Quebec, we invested C$3 million to create and sustain the C3E (Centre of Excellence for Energy Efficiency) to help entrepreneurs commercialise technological innovations in energy efficiency and renewable energy. Today, C3E is a pillar of Shawinigan’s “new economy” and is gradually becoming one of the largest entities in Canada specialising in the development of energy efficient transportation solutions.

 

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