The Minerals Council of Australia (MCA) has challenged Indigenous businesses and governments to consider equity frameworks alongside procurement frameworks in the resources industry.
At the annual Aboriginal Enterprises in Mining, Energy and Exploration conference, Matt Denyer, Principal Adviser – Indigenous Partnerships and Communities for the MCA, told delegates that the next phase in Indigenous participation in the resources sector should focus on ownership and equity participation.
“Participation alone isn’t power, and visibility isn’t value,” Denyer said. “The next chapter is about ownership, equity and intergenerational prosperity. It is about Indigenous enterprises not just being a part of someone else’s story but co-owners of its future.”
Denyer noted that in 2024-2025, total reportable Indigenous-business procurement reached about AU$5.83 billion across Australia, with the mining sector alone accounting for approximately AU$1.64 billion or 28 per cent.
MCA members directly employed approximately 6,000 Aboriginal and Torres Strait Islander people. The minerals export economy in Australia was valued at approximately AU$405 billion in 2023-2024.
The figures highlight the disparity between the scale of resource wealth and the share of economic ownership held by Indigenous businesses, Denyer said.
“We have only one Indigenous-led mine, no Indigenous-owned processing facilities, and no Indigenous capital funds capturing meaningful shares of that value,” he said.
“That gap is risk, because while resource value flows, its legacy flows elsewhere.”
Denyer outlined three pathways to ownership for Indigenous enterprises.
First, they must hold exploration and mining titles, not just subcontractors. Early collaborations with Indigenous people mitigate heritage concerns and native title objections.
Second, Indigenous co-ownership in regional infrastructure such as processing plants and renewable systems can keep wealth in these communities.
Third, Indigenous enterprises must invest in technical skills, governance and financial literacy to give them the ability to be investment-grade.
“If Indigenous businesses were to capitalise on a stake of just 1 per cent of the total mining export value, that is approximately $4 billion a year from co-ownership in one industry, on top of ever-increasing procurement opportunities. The risk is real: ownership will go to those ready to take it,” Denyer said.
