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Publication of 2017 Payments to Governments Report
Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64
Baar, Switzerland
29 June 2018
Publication of 2017 Payments to Governments Report
Today, Glencore published its third report on its economic contribution and
payments to governments. Our 2017 Payments to Governments Report provides an
overview of our approach to tax and transparency and discloses the payments
made during 2017 on a country-by-country and project-by-project basis and is
in accordance with the reporting requirements of Chapter 10 of the EU Accounting
Directive.
Steve Kalmin, Chief Financial Officer, noted, “Glencore is a significant
contributor to the national and local economies in the countries in which we
operate. In 2017, the economic value added by the Glencore Group was $14.7
billion, of which our total direct contribution to governments was over $4
billion. In this report, we note $2.78 billion of payments to governments in
respect of our extractive industries.”
During 2017, we sought feedback from interested stakeholders on our approach
to disclosing our payments to governments. Reflecting this feedback, the 2017
report includes payments to national, regional and municipal entities in all
countries that we operate in as well as payments in respect of our ownership
interest in the Antamina, Cerrejón and Collahuasi joint ventures.
In line with our commitment to transparency, the 2017 Report also includes
commercial payments to state-owned oil enterprises for oil in those countries
compliant with the Extractive Industries Transparency Initiative (EITI) and
the total payments for oil to state-owned oil enterprises in non-EITI
countries.
In recognition of the current debate regarding the real contribution of the
mining industry in the DRC following the introduction of the new mining code,
we have provided an in depth view of our overall contribution to the DRC’s
economic development and details on the taxes we have paid its government over
the past three years.
The Payments to Governments Report is now available on our website at:
http://www.glencore.com/sustainability/reports-and-presentations
We have submitted a copy of this report to the UK Storage Mechanism, in
accordance with the Listing Rules, and it is available for inspection on the
National Storage Mechanism: http://www.morningstar.co.uk/uk/NSM.
For further information, please contact:
Investors
Martin Fewings t: +41 41 709 2880 m: +41 79 737 5642 martin.fewings@glencore.com
Ash Lazenby t: +41 41 709 2714 m: +41 79 543 3804 ash.lazenby@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
Sustainable Development
Anna Krutikov t: +41 41 709 3426 m: +41 79 737 5582 anna.krutikov@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource
companies and a major producer and marketer of more than 90 commodities. The
Group's operations comprise around 150 mining and metallurgical sites, oil
production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural
resources, Glencore's industrial and marketing activities are supported by a
global network of more than 90 offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive,
steel, power generation, oil and food processing sectors. We also provide
financing, logistics and other services to producers and consumers of
commodities. Glencore's companies employ around 146,000 people, including
contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and
Human Rights and the International Council on Mining and Metals. We are an
active participant in the Extractive Industries Transparency Initiative.
Follow us on social media:
www.facebook.com/Glencore
www.flickr.com/photos/glencore
www.instagram.com/glencoreplc
www.linkedin.com/company/8518
www.slideshare.net/glencore
www.twitter.com/glencore
www.youtube.com/glencorevideos
Disclaimer
The companies in which Glencore plc directly and indirectly has an interest
are separate and distinct legal entities. In this document, “Glencore”,
“Glencore group” and “Group” are used for convenience only where references
are made to Glencore plc and its subsidiaries in general. These collective
expressions are used for ease of reference only and do not imply any other
relationship between the companies. Likewise, the words “we”, “us” and “our”
are also used to refer collectively to members of the Group or to those who
work for them. These expressions are also used where no useful purpose is
served by identifying the particular company or companies.
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank Division)
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