Rio taxes reached A$13.3bn in 2021
PERTH (miningweekly.com) – Diversified miner Rio Tinto paid $13.3-billion in global taxes and royalties during 2021, up from $8.4-billion in 2020.
Despite the ongoing challenges of Covid-19, Rio made a total direct economic contribution of $66.6-billion in the countries and communities where it operates in 2021, compared to $47-billion the previous year.
In Australia, Rio paid $11.1-billion in taxes and royalties, up from $6.8-billion the previous year. The company also made significant payments in Canada, amounting to $855-million, Mongolia, paying $544-million, Chile, paying $562-million, and $81-million in the US.
Since 2017, Rio has made a direct economic contribution of more than $251-billion to the countries and communities where it operates.
“We acknowledge the support of our host governments and communities in helping us keep our sites operating at a time when many other industries were heavily constrained. This enabled us to protect jobs, support local businesses, and produce record financial results. It also resulted in us paying substantial taxes and royalties to the governments where we operate,” Rio CFO Peter Cunningham said.
“Our economic contribution to governments and communities plays a critical role in the economic health and development of the regions where we operate. The funds governments and communities receive support the basic infrastructure of society, bridges and roads, schools and hospitals – as well as other local development priorities, including job creation and skills training.”
In the past 10 years, the company has paid $73.9-billion in taxes and royalties globally, of which over 78%, or $58-billion, was paid in Australia.
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