Valeria coal resource option
23 December 2021
Glencore is undertaking a range of studies related to the Valeria coal resource option in Queensland.
These studies and assessments will support the State and Federal approvals process for the project, which is still yet to reach a final investment decision.
The development of any coal project, including Valeria, will take into account Glencore’s climate change strategy and stated emission reduction targets.
Glencore has committed to reducing emissions by 15% by 2026, 50% by 2035 and an ambition of being a net zero total emissions business by 2050.
In Australia, our Liddell, Integra and Newlands mines will be closed and rehabilitated within the next five years and the majority of our coal assets in Colombia and South Africa will come to the end of their economic lives in the early 2030s.
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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 60 responsibly-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 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. Our ambition is to be a net zero total emissions company by 2050.
About Glencore Australia
In Australia, Glencore produces coal, copper, cobalt, nickel, zinc, lead, silver and gold from 26 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 17,690 people in Australia and in 2020 contributed over $13.8 billion to the regional, state and national economies. This included spend of $9.5 billion with 7,890 businesses across the country, as well as $2.1 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.
About Glencore's coal business in Australia
Glencore is one of Australia's largest coal producers with 17 operational mines across New South Wales and Queensland.
We provide employment for almost 10,000 Australians and in 2020 managed the production of about 99 million tonnes of thermal and coking coal, predominantly for export.
We have a strong safety and environmental performance and play an active role in the development of low emission coal technology.