Rio Tinto releases details of $10.8 billion of taxes and royalties paid in 2022
April 02 2023 - 7:18PM
Business Wire
Rio Tinto has published its 2022 Taxes and Royalties Paid
Report, detailing $10.8 billion of global taxes and royalties paid
during the year.
This compares to $13.3 billion in 2021, during very strong
commodity prices, and is the third-highest annual global taxes and
royalties paid by Rio Tinto since it published its first annual
Taxes Paid report, for 2010.
In Australia, which is home to almost half of the company’s
assets, $8.5 billion (A$12.3 billion) was paid in taxes and
royalties in 2022, down from $11.1 billion (A$14.8 billion) in
2021. Rio Tinto also made significant tax and royalty payments in
Canada ($718 million), Chile ($678 million), Mongolia ($294
million) and the United States ($135 million).
Rio Tinto Chief Financial Officer Peter Cunningham said “At Rio
Tinto, we are finding better ways to provide the materials the
world needs, and it is important that we do this responsibly and
transparently, while contributing to the host countries and
communities where we live and work.
“Taxes and royalties play a critical role in the economic and
social development of the regions and communities we operate in. As
temporary custodians of the land where we operate, we have a
responsibility to extract value from the minerals and materials we
produce in the safest and most sustainable way. This includes
providing economic opportunities; safeguarding and promoting
health, wellbeing, and human rights; combatting climate change; and
being the best possible stewards of the natural resources entrusted
to us.”
In the past ten years, Rio Tinto has paid $74.9 billion in taxes
and royalties globally, of which more than 78% was paid in
Australia.
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Investor Relations, Australia Tom Gallop
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