Fortescue celebrates A$5 billion milestone in First Nations business contracts

Fortescue’s trailblazing Billion Opportunities program has marked a significant milestone, celebrating more than A$5 billion in contracts and sub-contracts awarded to 200 First Nations businesses since the initiative was launched in 2011.

As a cornerstone of Fortescue’s strategy to create lasting economic opportunities, the Billion Opportunities program has been instrumental in driving the success of First Nations businesses. By focusing on sustainable development, the program not only supports individual businesses but also enriches the broader community, helping to build a stronger, more resilient economic future. 

Fortescue Metals Chief Executive Officer, Dino Otranto said, “We strongly believe that procurement is a powerful lever for social and economic change and we’re immensely proud of how this program has opened doors for First Nations businesses, sparking growth and creating ripple effects that benefit entire communities.  

“The success of the Billion Opportunities program is credit to our First Nations business partners who have backed this program from the very beginning. It’s been a privilege to watch them go from strength to strength and build long lasting value.”  

“We actively seek out First Nations businesses to work with whether it’s a cleaning supplies company or someone providing earth moving equipment, and initially they may be a very small operation with a handful of people, but by working with them in a collaborative way, we have seen them really grow.” 

To further amplify the program’s impact, Fortescue has partnered with ANZ since 2017, offering a unique funding initiative that provides eligible First Nations businesses with access to competitive financing. Fortescue’s role as guarantor eliminates the need for businesses to provide security, allowing them to retain ownership of assets and leverage them for future growth. 

The Billion Opportunities program is a beacon of what can be achieved when businesses and communities work together towards a shared vision of prosperity and sustainability.

Imagery is available HERE.