Rio Tinto Limited (ASX:RIO, LON:RIO) has expressed concerns about the rising cost of compliance. The dual listed global miner has flagged extra compliance costs as a result of new American and European Union global reporting regulations.
Chief financial officer Chris Lynch says the company is concerned about the new regulatory initiatives which have been introduced or that are under consideration.
Mr Lynch believes different reporting formats are unlikely to result in greater clarity but will result in extra costs for companies with little or no public benefit.
Reports have speculated Rio Tinto spent almost $15 million to adhere to Australia’s mining tax and is facing an increased annual compliance cost of more than $80 million.
Rio Tinto swung from an annual loss to a profit of $1.2 billion in the 2013 calendar year.
