Studying - QMM

Social and economic benefit

Our operations can have far-reaching impacts on society. Our ambition is for communities to consider themselves better for having hosted us, according to their own standards.

We contribute to society in many ways, through our products, employment, payment of taxes, royalties to governments, partnering with local businesses to create jobs and training opportunities, and by sourcing and promoting products and services through our local supply chains. We also contribute to society by investing in social and economic development.

As we invest in communities, we also recognise that they invest in us. They give their time and experience and provide access to their land and infrastructure. By working in partnership, we can help communities achieve their goals and aspirations.

Our goal for social investment is to contribute to strong and resilient communities in thriving regional economies.

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Outcome focused approach to investment

In 2023, we updated our approach to improve how we invest in and support communities, for greater impact and effectiveness.

Our new global company-wide strategy complements our Community and Social Performance Standard (2022) and aligns with the United Nations Sustainable Development Goals (SDGs). It is underpinned by 3 core elements:

  • Making long-term, impactful investments that create lasting benefits
  • Ensuring decision making is informed by and responsive to communities’ needs and priorities
  • Building capability in our teams and communities while sharing outcomes and learnings transparently

As we seek to build trust, we are finding better ways to work with communities to strengthen our relationships and apply a more strategic approach to partnering.

We have made a global commitment that by 2027, 70% of our social investment will be partnerships that drive positive, enduring outcomes for communities.

We are transforming our social investment to be outcomes focused so that we can support meaningful change and maximise the impact and value of our investment.

We measure our impact through a global outcomes framework, which consists of 10 long-term outcomes and 45 local outcomes and indicators.

Our approach focuses on 4 impact themes that address critical issues for the communities where we operate, both now and in the future.

  • 1. Human rights

    Enhance diversity, equity and inclusion within and around the communities and systems that create the foundations for people to thrive.

    • Human rights are respected and promoted.
    • People experience an adequate standard of living. The right to an adequate standard of living is a fundamental human right. It is part of the Universal Declaration of Human Rights that was accepted by the General Assembly of the United Nations on December 10, 1948.
    Primary Sustainable Development Goals

    No poverty

    Reduce inequalities

  • 2. Culture, heritage and place

    Contribute to transformative inter-generational conservation outcomes in the areas of culture, heritage or environment.

    • Preservation of, and connection to, culture and heritage.
    • Protection, restoration and regeneration of land and water ecosystems.
    • Local Indigenous management.
    Primary Sustainable Development Goals

    Life below water

    Life on land

  • 3. Community capacity and connections

    Unlock human potential and strengthen community resilience by enabling organisational capability and capacity and building social connections.

    • Empowered and connected communities.
    • Resilient and healthy communities.
    • Well-educated communities.
    Primary Sustainable Development Goals

    Good health and well-being

    Quality education

  • 4. Economic opportunity and just transition

    Contribute to strong local regions through locally driven economic development and equip communities to tackle the challenges of climate change responsibly.

    • Stable, beneficial work and economic opportunities.
    • Diverse, inclusive and secure economies.
    Primary Sustainable Development Goals

    Decent work and economic growth

    Responsible consumption and production

Social investment refers to our voluntary contributions that address identified needs or social and economic risks and create shared value. Development contributions are non-discretionary contributions that deliver social, economic and/or environment benefits.

Regional economic development

From the Pilbara to the South Gobi, many of our assets are in remote regions that typically have limited economic activity beyond mining. We are committed to creating value by investing in catalytic regional economic development and diversification opportunities that can endure beyond minding. This approach will lay the foundations for long-term resilience and ensure communities can achieve social and economic prosperity, not only now but into the future.

Global disaster relief

In the aftermath of a natural disaster, organisations and governments act fast to help with the most acute damage. While the secondary effects are usually much more widespread, devasting and difficult to manage.

Through our global disaster relief framework, we are working with relief organisations in areas where we operate to provide financial support for immediate response efforts, long-term recovery, preparedness and resilience to ensure impacted communities get the help they need to recover and endure.

Local procurement

We work hard to leave a lasting, positive legacy everywhere we work, and we are committed to fostering meaningful relationships with the communities that host us. As part of this, we strive to buy local products and engage local services. Learn more about our sustainable procurement.

Taxes paid

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. Read our Taxes paid report.

$

84m

Community investment

$

7.5B

Corporate tax paid in 2022

$

17.6m

Paid in development contributions

$

6.6B

$

231.9m

Paid to landowners

$

3.2B

Spent with local suppliers – 16.8% of total contestable spend

2023 figures

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