Mining drives Indigenous business growth

Supply Nation’s latest State of the Indigenous Business report reveals that total procurement spend with Indigenous-owned businesses reached $5.83 billion, with the mining sector leading the way.

During the 2024-25 financial year, mining was the biggest spender with $1.65 billion, followed by construction at $1.26 billion and government agencies at $1.53 billion.

“In a difficult year with trade disruptions, economic uncertainty and cost of living challenges, our members and suppliers have continued to seek opportunities for commercial collaboration, driving growth and resulting in positive economic and social outcomes,” Supply Nation chief executive and Awabakal woman Kate Russell said.

Female-led Indigenous businesses received $1.52 billion, with construction as their spending leading sector. Western Australia and New South Wales recorded the highest spend, while urban suppliers accounted for 82 per cent of procurement, compared with 18 per cent for remote and rural businesses.

“The report found that the overwhelming majority of procurement spend went to certified suppliers – businesses that are 51 per cent or more Indigenous owned, managed and controlled, rather than with registered suppliers, 50 per cent or more Indigenous-owned,” Russell said.

“This supports the recent reforms by the Federal Government to increase the definition of an Indigenous business to 51 per cent.”

Research shows that every dollar of revenue from Indigenous-owned businesses generates $3.66 in positive social and economic value, benefiting communities through cultural connection, financial security, and wellbeing.

The report highlights opportunities for mining and other industries to expand engagement in low-activity regions, diversify industry participation, and increase transaction sizes, strengthening the Indigenous business economy and delivering sustainable outcomes for Aboriginal and Torres Strait Islander communities.