Rio Tinto Ltd
(ASX:RIO) has reached a landmark agreement with Aboriginal populations in the Pilbara.
The Indigenous communities will receive more than $2 billion over 40 years, and opportunities to establish mining-related businesses. As part of the deal, 14 per cent of Rio’s workforce will be Aboriginal workers.
In return, Rio will be able to expand production in the region, according to reports by The Australian and Fairfax Media. The deal took seven years of talks to establish.
In the 2010 financial year Rio Tinto recorded a net profit of $14.9 billion.
