Australia home to Rio Tinto’s largest tax payments

Rio Tinto has paid the majority of its 2019 taxes in Australia, with $US6.2 billion ($10 billion) out of a total of $US7.6 billion in global levies in the country.

Australia is home to the largest part of Rio Tinto’s business, with an integrated network of 16 iron ore mines in the Pilbara, Western Australia alone.

Its Pilbara projects are worth a combined value of $US4.6 billion.

Rio Tinto has also paid over $US52 billion (more than 70 per cent) in taxes and royalties in Australia during the past decade.

In 2019, the company made significant payments in Chile ($US311 million), Mongolia ($US305 million), Canada ($US291 million), United States ($US178 million), the United Kingdom ($US117 million) and South Africa ($US80 million).

Rio Tinto chief financial officer Jakob Stausholm said a decade ago, it was the first company in the industry to disclose its payments to governments in detail, and the company had been reporting on its taxes and royalties paid, and its economic contribution, in increasing detail ever since.

“The funds we provide to governments and communities support the basic infrastructure of society – bridges and roads, schools and hospitals – as well as other local development priorities, like job creation and skills training,” Stausholm said.

“Being transparent about where these payments go helps our stakeholders better understand how these funds may be used.”

Rio Tinto made a $US45.1 billion direct economic contribution to the countries and communities where it operated last year.

This takes the company’s direct economic contribution since 2015 to $US210 billion.

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