The Western Australian Government has announced the appointment of an inaugural chair of its State-first Resources Community Investment Initiative (RCII) and launched an Expression of Interest (EOI) process for companies to identify projects they wish to contribute to.
The RCII, which was launched on 22 November 2022, will facilitate investment from the resources industry in iconic infrastructure projects and community initiatives across Western Australia.
To ensure the highest standards of governance and oversee the EOI process, the State Government has established an Advisory Committee, which will also play a part in promoting the RCII to industry and encouraging participation.
The Advisory Committee includes the CEO of the Chamber of Minerals and Energy of Western Australia, senior representatives from government agencies and an independent chair.
Reg Howard-Smith has been appointed the role of inaugural chair of the Advisory Committee.
The initiative’s foundation partners have already committed a total of $750 million, made up of contributions from Rio Tinto ($250 million), BHP ($250 million), Hancock Prospecting, Roy Hill and Atlas Iron ($100 million), Woodside Energy ($50 million), Chevron Australia ($50 million) and Mineral Resources ($50 million).
This funding will be used to invest in iconic projects that leave a lasting legacy for Western Australia, with an initial pipeline of projects already identified, including:
- The Aboriginal Cultural Centre
- Perth Zoo Master Plan
- Remote Aboriginal Communities Fund
- Perth Concert Hall redevelopment
- Expansion of Ronald McDonald House
- Additional contributions to Telethon
The State Government has launched the expression of interest process, allowing contributing companies to indicate which projects they want to make a financial contribution to. Companies will also be able to put forward transformational projects for consideration that provide long-term social and economic outcomes in the regions they operate in.
Resource companies are encouraged to participate in the RCII, with additional contributions already pledged. A further announcement of contributions will be made following the close of the EOI process on 31 July 2023.
Premier of Western Australia, Mark McGowan, said, “The Resources Community Investment Initiative builds on the state’s ongoing collaboration with Western Australia’s resources industry and provides a mechanism to partner to deliver projects with lasting benefits for generations of Western Australians.
“I welcome Reg Howard-Smith’s appointment as the inaugural chair of the RCCI Advisory Committee – his extensive experience in both the resources industry and working with the government will help to ensure this initiative is a success.
“The Expression of Interest process launched will get the ball rolling on negotiations with the sector to match contributions to the iconic RCII projects as well as projects that will provide long-term social and economic benefits in the communities that resources companies operate in.
“I am confident that other Western Australian resources companies will join this worthwhile initiative. Together, we can improve the lives of Western Australians and make our State a better place to live for many years to come.”
For more information please visit the Resources Community Investment Initiative website.
