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During Supplier Diversity Month in September 2021 our Australia team announced 14-day payment terms would become standard for all of our current and future First Nations businesses. This will ensure faster payments to help business owners achieve greater efficiencies.
"This small change is one of a number of initiatives that we are implementing across our procurement processes in support of Indigenous businesses. Our commitment to reconciliation and the recent completion of our Reflect Reconciliation Action Plan (RAP) has highlighted the many opportunities available to us to make positive changes in this space," says Mark Dominy, Manager: Supply Chain, Gold Fields Australia.
Local procurement is a cornerstone of our Sharing Value approach in our communities. In 2020 alone Gold Fields globally spent US$536m – about 30% of our total procurement spend – with businesses located in our host communities. In Australia, this focus includes identifying and prioritising opportunities for engaging with Indigenous Australian businesses, particularly those connected to our Native Title and Traditional Owner stakeholders where our operational sites are situated.