Big Rio profits prove it should pay more
Rio Tinto is on track to have its entire locomotive fleet fully automated by the end of this year, decreasing local train driver jobs and increasing the company’s profit.
Driverless trains mean Rio can reduce costs and increase exports. While the decrease in jobs is concerning, I want to focus on the eye-watering earnings Rio is making before tax.
Rio has stated it intends to reach a capacity of 360 million tonnes this year, and at $47.50 per tonne, that equates to a staggering $17 billion pre-tax margin.
That is $17 billion from a West Australian resource that cannot be renewed. We have one chance to benefit from this resource and I am appalled that our Premier and the Labor Government continue to strip essential services from regional WA, while refusing to sit down with the big miners to discuss an increase to the special lease rental. If the above figures are anything to go by, it is clear they can afford it.
Jacqui Boydell MLC
Member for Mining and Pastoral Region
The Nationals WA deputy leader
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