Fortescue Metals Group (Fortescue) continues to create significant opportunities for Aboriginal-owned businesses, with a substantial contract recently awarded to
Redspear Safety Pty Ltd (Redspear).
Following a competitive tender process and a six-month trial, the Aboriginal-owned and operated Western Australian business will now supply lifting and rigging equipment across all of Fortescue’s operational sites over the three-year term of the contract.
Owner and Managing Director Barry McGuire said Fortescue was the first of the majors to provide Redspear with an opportunity to provide business critical services.
“This has given us confidence that we are able to compete with some of the largest names in lifting and rigging in Australia and beyond. We thank Fortescue for the opportunity to show our young people that with hard work, perseverance and support from the right partner, everything is possible,” Mr McGuire said.
Redspear also has the opportunity to apply for 14-day payment terms, under a new business initiative announced this month to ease pressure on Aboriginal and Pilbara-based suppliers.
“Cash management is critical to the sustainability of any small business, and Fortescue’s reduced payment terms allows Redspear to invest more in its business”, Mr McGuire said.
Fortescue CEO Nev Power said initiatives such as the company’s Billion Opportunities program and new payment terms were providing encouragement to small businesses to build capability and capacity, while also offering practical solutions to cash flow management.
“By facilitating strong businesses we are creating more jobs and development opportunities for Aboriginal Australians, which are in turn changing lives and helping to build stronger communities,” Mr Power said.
Since the inception of Billion Opportunities in 2011, 240 contracts and sub-contracts worth $1.85 billion have been awarded to 103 Aboriginal-owned businesses and joint ventures.