Locomotive driver at Karratha Rail

Taxes paid report

2022

Taxes Paid Report

Taxes Paid Report 2022
PDF
1.76 MB
Country-by-Country Report 2022
PDF
1.17 MB
  • Past reports

    Taxes Paid Report 2021
    Taxes Paid Report 2021
    PDF
    4.74 MB
    Country-by-Country Report 2021
    PDF
    1.42 MB
    Taxes Paid Report 2020
    Taxes Paid Report 2020
    PDF
    18.77 MB
    Country-by-Country Report 2020
    PDF
    4.25 MB
    Taxes Paid Report 2019
    Taxes Paid Report 2019
    PDF
    5.42 MB
    Country-by-Country Report 2019
    PDF
    1.23 MB
    Taxes Paid Report 2018
    Taxes Paid Report 2018
    PDF
    6.25 MB
    Country-by-Country Report 2018
    PDF
    429 KB
    Taxes Paid Report 2017
    PDF
    3.14 MB
    Taxes Paid Report 2016
    PDF
    5.57 MB
    Taxes Paid Report 2015
    PDF
    5.31 MB
    Taxes Paid Report 2014
    PDF
    562 KB
    Taxes Paid Report 2013
    PDF
    3.99 MB
    Taxes Paid Report 2012
    PDF
    2 MB
    Taxes Paid Report 2011
    PDF
    3.24 MB

For 150 years, we have been entrusted with accessing the world’s essential materials and making them available for society’s use. These resources are finite, and 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 possible. This includes providing people and communities with economic opportunities; safeguarding and promoting the health, wellbeing and human rights of people and communities; combatting climate change; and being excellent stewards of the natural resources entrusted to us.

$10.8B

Total taxes and royalties paid globally in 2022

Peter, Chief Financial Officer

Peter Cunningham

CHIEF FINANCIAL OFFICER

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.

Social investment

We want to leave a lasting, positive legacy everywhere we work. The taxes we pay to governments is one way in which we do this, as they play a critical role in the economic health and development of the regions where we operate. Catalysing economic opportunities for our host communities and regions is also a priority for us, and through our voluntary social investment, we strive to support initiatives that we believe can have a positive impact in the communities where we operate.

Australia

For more than 23,000 of our employees, Australia is home. In 2022, we were one of Australia’s largest taxpayers, contributing $8.5 billion (A$12.3 billion) in taxes and royalties. Over the past ten years, we have paid $74.9 billion in taxes and royalties globally, of which 78.5%, or $58.8 billion (A$77.6 billion), was paid in Australia.

  • In 2022

    $8.5B

    Total taxes & royalties paid in Australia

    $6.1B

    Corporate income tax paid in Australia

    $2.1B

    Royalties paid in Australia

    31.7%

    Australian effective corporate income tax rate on underlying earnings

    41.2%

    Australian effective income tax and royalty rate on underlying earnings

    $58.8B

    Total taxes and royalties paid in Australia in the last 10 years

    $13.4B

    Australian pre-tax underlying earnings

    23,159

    Employees

    $0.8B

    Taxes collected on behalf of employees and remitted to Australian governments

Canada

We have more than 13,000 of our employees working across our sites and operations in Canada. We undertake exploration activities, and operate research and development centres, port and rail facilities, and technical and sales service centres, with hydroelectric facilities in British Columbia and Quebec.

  • In 2022

    $718M

    Total taxes and royalties paid in Canada

    $420M

    Corporate income tax paid in Canada

    $2,034M

    Canadian pre-tax underlying earnings

    13,344

    Employees

    $489M

    Taxes collected on behalf of employees and remitted to Canadian governments

Mongolia

The Oyu Tolgoi copper and gold mine in the South Gobi Desert of Mongolia is a project almost unrivalled in the industry in its complexity and scale. By 2030, Oyu Tolgoi is expected to be the world’s fourth-largest copper mine. It is also one of the most modern, safe, sustainable and water-efficient operations globally, with a workforce who are more than 97% Mongolian.

  • In 2022

    $15B*

    Invested in Mongolia between 2010 and 2022

    $4B*

    Total taxes and royalties paid in Mongolia since 2010

    $294M

    Total taxed and royalties paid in Mongolia

    $209M

    Taxes and royalties paid to the Mongolian national Government including royalties of $81M

    $85M

    Total taxes paid to the regional governments

    -$443M

    Mongolian pre-tax underlying loss in 2022

    4,175

    Employees

    $27M

    Taxes collected on behalf of employees and remitted to Mongolian governments in 2022

*Reported $15B and $4B totals do not include any amounts in relation to the $2.4 billion waiver of funding balances from a carry account loan with Erdenes Oyu Tolgoi. Refer to page 213 in our Annual Report for more information.

United States

Kennecott, our operation based in Salt Lake City, Utah, has one of only two operating copper smelters in the US and it delivers approximately 12% of US copper production. Our borates business in California, U.S. Borax, supplies almost 30% of the global demand for refined borates. It is used in everything from agriculture to fibreglass insulation and in materials for renewable energy – for both wind and solar projects.

  • In 2022

    $135M

    Total taxes and royalties paid in the US

    $6M

    Corporate income tax paid in the US

    $57M

    Taxes paid to Salt Lake County, Utah

    -$244M

    US pre-tax underlying loss

    3,655

    Employees

    $111M

    Taxes collected on behalf of employees and remitted to US state and federal agencies

South America

In 2022, we invested in the Rincon Lithium Project – a large, undeveloped lithium-brine project located in the heart of the lithium triangle in Argentina. Once fully operational, it will be a valuable source of rapidly produced, high-quality lithium for the global energy transition.

  • In 2022

    $694M

    Total taxes and royalties paid in South America

    $678M

    Total taxes and royalties paid in Chile

    $13M

    Total taxes and royalties paid in Peru

    $2M

    Total taxes and royalties paid in Argentina

    $1,141M

    South America pre-tax underlying earnings (including equity accounted units)

    1,669

    Employees (including equity accounted units)

    $15M

    Taxes collected on behalf of employees and remitted to South American governments

Africa

Our operations in Africa include mines, refineries and processing plants and we also conduct exploration activities across the continent. We have mineral sands operations in South Africa and Madagascar, while in Guinea, we have an iron ore project and a non-managed interest in a bauxite mine.

  • In 2022

    $149M

    Total taxes and royalties paid in Africa

    $123M

    Corporate income tax paid in Africa

    $320M

    Africa pre-tax underlying earnings (including equity accounted units)

    $85M

    Total taxes and royalties paid in South Africa

    3,823

    Employees in Africa (including equity accounted units)

    $31M

    Taxes collected on behalf of employees and remitted to governments of five countries in Africa

Europe

Our history in Europe stretches back to our formation 150 years ago: our first mines were along the banks of the Rio Tinto river in Andalusia, Spain. Today, we have operations and legacy sites across Europe, and our global headquarters are in London. We continue to invest in Europe, focusing on commodities and partnerships enabling energy transition.

  • In 2022

    $129M

    Total taxes and royalties paid in Europe

    $79M

    Corporate income tax paid in Europe

    $39M

    Employer payroll tax paid in Europe

    $492M

    Europe pre-tax underlying earnings

    1,196

    Employees

    $83M

    Taxes collected on behalf of employees and remitted to European governments

Our 2022 reports

BlueSmelting™ project in Sorel-Tracy

Annual report

Our drive for innovation and continuous improvement is at the core of our purpose
Sustainability reporting

Sustainability reporting

We have a responsibility to extract the full value from the minerals and materials we produce in the safest and most sustainable way possible
Yarwun employee

Climate change report

The low-carbon transition is at the heart of our business strategy