Rio Tinto releases details of $8.4 billion of taxes and royalties paid in 2024

MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto has published its 2024 Taxes and Royalties Paid Report, which details $8.4 billion of taxes and royalties paid globally during the year (2023: $8.5 billion).

In Australia, taxes and royalties totalling $6.3 billion (A$9.5 billion) were paid in 2024, including corporate tax paid of $3.7 billion (A$5.5 billion). Rio Tinto also made significant tax and royalty payments in Chile ($615 million), Canada ($500 million), Mongolia ($482 million), and the United States ($136 million).

Rio Tinto Chief Financial Officer Peter Cunningham said: “We seek to operate responsibly everywhere we work, and the taxes and royalties we pay to governments play a critical role in supporting the economic health and development of the regions where we operate.

“Our economic contribution can be significant for national budgets and local development priorities such as job creation and skills training for the countries where we do business. And our voluntary social investment delivers further value to communities, allowing them to invest in their own social and economic development for years to come.

“Our commitment to safely and sustainably access the world’s essential materials underpins everything we do. We strive to operate responsibly at every stage of our business, and to continue to work to find better ways to support the communities in which we operate.”

In the past 10 years, Rio Tinto has paid $77.3 billion in taxes and royalties globally, of which more than 78% was paid in Australia.