Rio Tinto takes step towards transparency by publishing payments to governments
Rio Tinto has taken an important step towards transparency by voluntarily disclosing, for the first time, the total tax and royalty payments that it makes to 13 of the countries where it operates, according to Publish What You Pay (PWYP).
Publish What You Pay is a global civil society coalition with over 300 member groups who work together for greater transparency in the oil, gas and mining industries. Revenue transparency is a crucial first step towards insuring that revenues from these industries are used properly to reduce poverty, not wasted or lost to corruption.
In an online supplement to its 2008 annual report, Rio Tinto has published its total tax and royalty payments to each of 13 countries where these payments totalled USD $10 million or more. In the 2007 supplement the company only disclosed this data by continent, not by country.
See http://www.publishwhatyoupay.org/en/resources/rio-tinto-takes-step-towards-transparency-publishing-payments-governments