Rio Tinto’s Global Tax and Royalty Contributions in 2023
Rio Tinto, a diversified mining company, reported substantial tax and royalty payments totaling $8.5 billion worldwide in 2023, with the majority allocated to Australia, where it conducts nearly half of its global operations.
Compared to the $10.8 billion paid in 2022, which included $1.5 billion in Australian corporate tax payments related to previous years, the 2023 figure reflects a decrease.
In Australia, tax and royalty payments amounted to $6.6 billion in 2023, inclusive of $4.1 billion in corporate tax payments. Additionally, Rio Tinto disbursed significant sums in Canada ($601 million), Chile ($477 million), Mongolia ($371 million), and the US ($123 million).
Peter Cunningham, the CFO, emphasized the company’s commitment to transparent tax reporting, acknowledging the crucial role such contributions play in the economic and social development of host countries and communities.
These funds support national budgets and local development initiatives, fostering job creation and skills training.
Cunningham highlighted Rio Tinto’s dedication to responsible mineral extraction, aiming for safety and sustainability in operations.
Over the past decade, the company has cumulatively contributed $76 billion in taxes and royalties globally, with more than 78% directed to Australia.
