ICMM members pay a higher tax and royalty rate despite lower profits
(Posted on 27/02/26)
At a time when global volatility continues to impact the mining industry and profits remain under pressure, ICMM members paid a higher share of their earnings back to society. ICMM’s 2025 Tax Contribution Report shows that despite an 11.6% fall in total tax and royalty payments compared to 2023, the combined tax and royalty rate rose to 42.5%, reinforcing mining’s role as a cornerstone of public revenues in host countries.
ICMM bring together a third of the global metals and mining industry, along with key partners to drive leadership, action and innovation for sustainable development,
Beyond tax contributions, ICMM members made substantial additional investments in employment, social and infrastructure development, delivering lasting benefits to communities throughout the mining lifecycle. In 2025, members recorded year-on-year increases across all key metrics, including:
582,000 jobs supported (+2.1%)
US$ 45.5bn paid in wages and related payments (+10.5%)
US$217.4 bn paid to suppliers (+6.6%)
US$1.6bn invested in community and social programmes (+2.6%).
These results demonstrate that ICMM members are genuine and reliable partners to host countries and governments through thick and thin. We returned a higher percentage of lower profits while increasing our social and community investments across all key metrics.
It serves as a powerful reminder that in addition to minerals being critical to all human technologies, their responsible production is itself a powerful driver of development. The world will need significantly more mining in future, and ICMM members’ contributions in 2024 show how that can drive shared prosperity.
ICMM members made a combined contribution of US$37.1bn in corporate income tax (CIT) and royalty payments. Broken down, this total comprises US$25.1bn in CIT and US$12.1bn in royalties. Since 2013, Members have reported US$398.2bn in total CIT and royalty charges and US$404.7bn in total CIT and royalty payments. Compared to total adjusted profits of US$1,076.2bn reported over the same period, this translates to over US$37 out of every US$100 of profit earned being charged and paid in CIT and royalties.
The results demonstrate the mining industry’s inherent cyclicality and the importance of mutually agreeable fiscal frameworks that balance public revenue needs with the capacity of companies to reinvest in social and economic development of communities they operate in.
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