14 June 2013

Rio Tinto calls for pro-growth measures for the developing world at pre-G8 summit event

 Download media release pdf here

 G8 CASE STUDY: Rio Tinto taxes paid report

 G8 CASE STUDY: Mongolia: Understanding the economic impact of Rio Tinto’s Oyu Tolgoi mine

 G8 CASE STUDY: Capacity building for tax administrations

At a pre-G8 summit event on trade, tax and transparency in London tomorrow, Rio Tinto will call for businesses to be more transparent about their tax affairs and will stress the importance of governments taking further steps that encourage growth in the developing world and tackle poverty.

Hosted by UK Prime Minister David Cameron and Deputy Prime Minister Nick Clegg, the event will bring together business, civil society and governments to discuss working to promote and practise fairer trade, proper taxes and more transparent investment in land, minerals, oil and gas.

Rio Tinto chief executive Sam Walsh is participating in the event.  He said “Rio Tinto supports the UK Government’s call for a global push on responsible trade and investment to help fuel development and the fight against poverty.

“As a founder member of the Extractive Industries Transparency Initiative and a company that publishes a breakdown of the global taxes we pay every year, we are fully supportive of the efforts to spread this kind of good practice more broadly.

This should be pursued in a sensible way, with a clear and consistent global standard for extractive industry tax reporting that keeps the focus on fighting corruption and the burden on business manageable.

“It’s also important to recognise that transparency in tax affairs is not an end in itself.

Building the capability of governments to collect and spend tax revenues effectively, as well as maintaining a positive investment climate are both critical for growth.  This is an area in which governments in both the developed and developing world, businesses and NGOs can work together to bring real and lasting change.”

Note to editors

Rio Tinto has produced three case studies, available on Rio Tinto website for the pre-G8 event on:

• Mongolia: Understanding the economic impact of Rio Tinto’s Oyu Tolgoi mine
• Capacity building for tax administrations – Colombia, Mongolia, Guinea
• Rio Tinto Taxes Paid report

About Rio Tinto 

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tintos business is finding, mining, and processing mineral resources.

Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore.

Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.

Contacts:

Media Relations, EMEA / Americas
Illtud Harri
Office: +44 (0) 20 7781 1152
Mobile: +44 (0) 7920 503 600

David Outhwaite
Office: +44 (0) 20 7781 1623
Mobile: +44 (0) 7787 597 493

Christina Mills
Office: +44 (0) 20 7781 1154
Mobile: +44 (0) 7825 275 605

Media Relations, Australia / Asia
David Luff
Office: +61 (0) 3 9283 3620
Mobile: +61 (0) 419 850 205

Bruce Tobin
Office: +61 (0) 3 9283 3612
Mobile: +61 (0) 419 103 454

Media Relations, Canada
Bryan Tucker
Office: +1 (0) 514 848 8151
Mobile: +1 (0) 514 825 8319

Investor Relations, London
Mark Shannon
Office: +44 (0) 20 7781 1178
Mobile: +44 (0) 7917 576 597

David Ovington
Office: +44 (0) 20 7781 2051
Mobile: +44 (0) 7920 010 978

Investor Relations, North America
Jason Combes
Office: +1 (0) 801 204 2919
Mobile: +1 (0) 801 558 2645

Investor Relations, Australia
Christopher Maitland
Office +61 (0) 3 9283 3063
Mobile +61 (0) 459 800 131

Rachel Storrs
Office: +61 (0) 3 9283 3628
Mobile: +61 (0) 417 401 018

Further information:

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Website: www.riotinto.com