However, the Council points out that the payments by its members actually increased as a proportion of profits. The combined CIT and royalty rate was 40.6% in 2024, a 7.7% increase on the prior year (32.9%).
ICMM said its members continued to deliver broad socio-economic benefits in 2024, with increases across all metrics on the prior year period, including: 609,300 jobs supported (+8.0%); $41.1 billion paid in wages and related payments (+5.2%); $203.8 billion paid to suppliers (+4.1%) and $1.5 billion invested in community and social programs (+9.4%).
“Mining is inherently cyclical in nature, but our latest tax contribution report demonstrates the enduring value that the industry delivers to host countries,” ICMM CEO Rohitesh Dhawan said in a news release.
Since 2013, ICMM members — which include the biggest mining companies in the world — have reported $367.6 billion in total CIT and…
