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GLN: Publication Of 2018 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
01 July 2019
Publication of 2018 Payments to Governments Report
Glencore has published its fourth report on its economic contribution and
payments to governments. Our 2018 Payments to Governments Report provides an
overview of our approach to tax and transparency and discloses the payments
made during 2018 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.
Each year, we work with interested stakeholders, including our investors and
civil society groups to consider how we can expand and improve on our disclosure
of these payments. In line with this commitment to transparency, our 2018 report
includes additional disclosures on:
• The payments we make in the Democratic Republic of Congo and South Africa
• Practical examples on how and why Glencore utilises so called ‘tax havens’
• Identification of specific recipient government entities
• Oil purchases from state-owned oil enterprises in support of the EITI
• Purchases of oil originating from the Republic of South Sudan
• Advances and loans repayable with product
In addition, we continue to disclose our large custom and excise payments to
government entities.
Steve Kalmin, Chief Financial Officer, noted, "Our activities within our
operating countries enable governments to monetise their natural resources.
Governments can use the tax and royalty payments we make to provide its citizens
with services and infrastructure that improve their quality of life. During
2018, our total payments to government were around $5.7 billion."
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 m: +41 79 737 martin.fewings@glencore.com
Ash Lazenby
t: +41 41 709 5642
m: +41 79 543 ash.lazenby@glencore.com
Media 2714 3804
Charles Watenphul t: +41 41 709 24 m: +41 79 904 33 charles.watenphul@glencore.com
Sustainability 62 20
Anna Krutikov t: +41 41 709 34 m: +41 79 737 55 anna.krutikov@glencore.com
26 82
Follow us on social media:
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 158,000 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.
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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 banking division
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