Roy Hill Holdings, its business partners and project contractors, have set up a $10 million community foundation they say will offer a “unique” approach to delivering educational and cultural programs to Pilbara communities.
Roy Hill chief executive Barry Fitzgerald said the company had sufficient support from partners to create a charitable foundation despite sustained low iron ore prices putting a squeeze on the industry.
“With a downturn in the resources sector, we are well aware of concerns within communities of the potential loss of support from companies for community programs,” he said.
Mr Fitzgerald said the Roy Hill Community Foundation would seek to bring together companies that could pool resources and financial investments.
“The foundation’s partners are driven by a belief that more effective outcomes are achieved through a collaborative and integrated approach,” he said.
“It is a vehicle for companies to join forces to address community issues deemed too hard to tackle on our own.”
Contractors including Samsung C&T have pledged cash as well as in-kind commitments to the foundation, such as providing business and technical expertise, startup support, mentoring and training.
A full list of companies involved in the foundation, which has been approved as a charity by the national regulator, has not yet been made public.
The foundation is also yet to name its management committee, but it is understood members will be representatives of “platinum partners” in the foundation.
As the most recent entry to BNiQ's list (of now 56) charitable organisations operating in Western Australia, the foundation intends to invest in four main areas: education and training; culture and the arts; business development; and community development.
It is also aiming to encourage companies in the Pilbara to demonstrate leadership and collaborate with communities by investing in social capital.
It’s understood the foundation will first seek to consult with local program providers and indigenous communities to understand what is needed before it chooses alliances and begins supporting and creating programs.
However, it has flagged its first project will be an arts and cultural enterprise centre in Port Hedland, which will act as a local venue for traditional owners, the Karriyarra, Palkyu, and Nyiyaparli people, to come together.
