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AAP
AAP
Business
Marty Silk

Rio Tinto compo bill 'nothing like' $450m

Rio Tinto Rio Queensland Coal Gladstone
Taxpayers will foot the bill for a compensation claim by mining giant Rio Tinto. (Richard Wainwright/AAP PHOTOS) (AAP)

Rio Tinto will get "nothing like" $450 million in compensation to offset the impact of a coal price cap on its Gladstone Power Station in Queensland, the prime minister says.

The federal government is negotiating coal price caps of $125 a tonne with Queensland and NSW, in a bid to put drive down household and business electricity bills.

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