Big miners have rejected Taxation Commissioner Chris Jordan’s suggestion the industry was reluctantly dragged into paying more tax, as American oil giant ExxonMobil said it was trying to resolve the ATO’s concerns about the interest rates it charged on loans to its Australian subsidiaries.

Exxon could be the next multinational resources company to strike a lucrative settlement with the ATO after Chevron did so in 2017, BHP followed suit in 2018 and Rio Tinto agreed to a $991 million settlement last week.