Diversified mining company Rio Tinto has paid $8.5-billion in taxes and royalties globally in 2023, the majority of which was paid in Australia.
The 2023 amount compares with $10.8-billion paid in 2022, which included $1.5-billion of Australian corporate tax payments related to prior years.
In Australia, home to almost half the company’s global business, taxes and royalties totalling $6.6-billion were paid in 2023, including corporate tax paid of $4.1-billion.
Rio Tinto also made significant tax and royalty payments in Canada ($601-million), Chile ($477-million), Mongolia ($371-million) and the US ($123-million).
“We remain committed to being a leader on transparent tax reporting, as we continue to find better ways to contribute to our host countries and communities,” said CFO Peter Cunningham.
“The taxes and royalties we pay play an important role in economic and social development, and can be significant for national budgets and local development priorities such as job creation and skills training.
“It is important to us that we make this contribution openly and transparently, as part of our responsibility to extract value from the minerals and materials we produce in the safest and most sustainable way possible.”
In the past ten years, Rio Tinto has paid $76-billion in taxes and royalties globally, of which more than 78% was paid in Australia.