Finding better ways to provide the materials the world needs
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The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
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The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
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One of the most modern, safe and sustainable operations in the world
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world’s largest untapped high-grade iron ore deposit
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We’re targeting net zero emissions by 2050
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Our nature-based solutions projects complement the work we're doing to reduce our Scope 1 and 2 emissions
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We have a clear plan on decarbonisation - find out more about our progress in 2024
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Our Investor seminar will be held in London on 4 December, and our Decarbonisation update on 5 December
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How unlocking innovation requires a change of mindset
Reducing titanium oxide's carbon footprint
Our BlueSmelting technology could drastically reduce carbon emissions during ore processing
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MELBOURNE, Australia--(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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230331005315/en/
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, United Kingdom Matthew Klar M +44 7796 630 637 David Outhwaite M +44 7787 597 493
Media Relations, Australia Matt Chambers M +61 433 525 739 Jesse Riseborough M +61 436 653 412 Alyesha Anderson M +61 434 868 118
Media Relations, Americas Simon Letendre M +514 796 4973 Malika Cherry M +1 418 592 7293
Investor Relations, United Kingdom Menno Sanderse M +44 7825 195 178 David Ovington M +44 7920 010 978 Clare Peever M +44 7788 967 877
Investor Relations, Australia Tom Gallop M +61 439 353 948 Amar Jambaa M +61 472 865 948
Rio Tinto plc 6 St James’s Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885
Rio Tinto Limited Level 43, 120 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404
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