$8.4bn tax contribution by Rio Tinto
(Posted on 11/04/21)
Rio Tinto has released its 2020 Taxes paid. The company’s economic contribution report, which shows that they made a total direct economic contribution of $47 billion in the countries and communities where it operates, including $8.4 billion of taxes and royalties.
Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1 billion in the countries and communities where it operates, including $7.6 billion of taxes and royalties.
Most of Rio Tinto’s taxes and royalties were paid in Australia ($6.8 billion, or AUD9.8 billion, including $4.6 billion of corporate tax), home to the largest part of Rio Tinto’s business. The company also made significant payments in Canada ($651 million or CAD872 million), Mongolia ($277 million), Chile ($246 million), UK ($132 million), United States ($111 million), and South Africa ($61 million).
Rio Tinto’s $47 billion direct economic contribution in 2020 took the company’s total direct economic contribution since 2016 to $220 billion.
Rio Tinto interim chief financial officer Peter Cunningham said “As the COVID-19 virus threatened lives and livelihoods around the world, our entire company mobilised to safeguard our employees, contractors and local communities, and to keep our operations running safely and smoothly.
“The strength and resilience of our business, along with the commitment and flexibility of our employees, customers, communities and host governments, enabled us to protect thousands of jobs across our supply chain and continue to pay taxes and royalties to governments when many other companies were forced to cut back.”
More than a decade ago, Rio Tinto was the first company in the resources industry to voluntarily disclose its payments to governments in detail, and has continued to report on taxes and royalties paid, and economic contribution, in increasing detail ever since. In the past 10 years, Rio Tinto has paid $71.5 billion in taxes and royalties to governments around the world, including $54.4 billion paid in Australia.
Rio Tinto is a founding member of the Extractive Industries Transparency Initiative and a signatory to the B Team Tax Principles, a not-for-profit initiative formed by a group of cross-sector, cross-regional companies to help define what leadership in responsible tax looks like.
Latest News
Bunge closes agreement to acquire NWT grain elevator assets
(Posted on 04/11/25)Bunge has successfully closed its purchase agreement for the grain elevator assets of North West Terminal... Read more
NGFA applauds Senate committee for advancing Grain Standards Act reauthorisation
(Posted on 27/10/25)The National Grain and Feed Association (NGFA) in the USA has applauded the Senate Agriculture Committee... Read more
Rio Tinto announces board changes.
(Posted on 24/10/25)As Rio Tinto previously reported, the size of its Board peaked at 14 Directors during a transitional... Read more
ADM advances quality capabilities with new central milling laboratory
(Posted on 24/10/25)ADM , a global leader in human and animal nutrition, has celebrated the opening of its new Central Milling... Read more
Bunge announces reporting segment changes and recast outlook
(Posted on 20/10/25)Bunge Global SA has announced that it has changed its segment and volume reporting to align with the... Read more
Open Trade Coalition calls for bold and open EU trade policy
(Posted on 20/10/25)As the European Parliament prepares for the confirmation hearings of the new Commissioners, the Open... Read more
Rio Tinto Q3 results show strong production across the portfolio
(Posted on 14/10/25)Multinational mining company, Rio Tinto, has releases its third quarter 2025 production results showing... Read more
Robe River JV to invest $733m to extend Western Australia iron ore mine
(Posted on 08/10/25)Rio Tinto, Mitsui and Nippon Steel will invest $733 million1 (Rio Tinto share $389 million) to develop... Read more
Cargill deploys AI robot dog 'Spot' to enhance safety, reliability and innovation
(Posted on 07/10/25)Cargill has introduced Boston Dynamics’ four-legged robot, Spot, at its Amsterdam Multiseed crush... Read more
Holcim strengthens West Australia presence with BGC acquisition
(Posted on 07/10/25)Holcim Australia has announced that Cement Australia (CA) - its joint venture with Heidelberg Materials... Read more
