Glencore Australian operations contribute $14 billion to economy
28 July 2022
Glencore has released its latest economic contribution study, which shows a direct contribution of $14 billion to the Australian economy in 2021.
We are Australia’s largest producer of coal, cobalt, zinc and lead, and the second-largest producer of nickel, copper and silver.
Employing 17,350 people in Australia, Glencore operates 25 mines across Queensland, New South Wales, the Northern Territory and Western Australia.
The largest part of our contribution last year was a $9.2 billion spend on goods and services from 8,630 Australian businesses.
Glencore also paid around $2.9 billion in taxes and royalties in Australia for calendar year 2021. Since 2011, our Australian operations have paid more than $19 billion in taxes and royalties in Australia.
Glencore commissioned Ernst & Young to complete the study, which estimated that last year the flow-on benefits from our operations was about 94,900 jobs and $27 billion to the national economy.
Cassandra McCarthy, Head of Corporate Affairs for Glencore in Australia said:
“Glencore has been operating in Australia for more than 25 years, providing employment for Australians and contributing to jobs and businesses in the city, and in the communities where we operate.
“We believe mining matters. Australia has a world class mining sector that continues to be a key pillar of our economy and Glencore is proud to be part of that economic contribution.”
For further information, please contact:
Notes for editors
About Glencore Australia
In Australia, Glencore produces coal, copper, cobalt, nickel, zinc, lead, silver and gold from 25 mining operations. We also operate metals processing assets in Queensland, New South Wales, Western Australia and the Northern Territory, including metals smelters, concentrators and refineries.
We are among Australia’s largest producers and marketers of natural resources, connecting Australian resources with industrial customers around the world. Through our diverse portfolio, we responsibly supply the resources that advance everyday life.
We employ 17,350 people in Australia and in 2021 contributed $14 billion to the regional, state and national economies. This included spend of $9.2 billion with 8,630 businesses across the country, as well as $2.9 billion in government tax and royalty payments.
We are committed to providing a safe, inclusive and respectful workplace for our people, to respecting the environment, to engaging openly and constructively with the Traditional Owners on whose lands we operate and to bringing value to local communities.
Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021 we increased our medium-term emission reduction target to a 50% reduction by 2035 and introduced a new short-term target of a 15% reduction by 2026.