A vaccine for COVID-19. One natural resource company. What's the connection?
30 July 2020
Glencore has provided a A$725,000 funding injection to the University of Queensland’s efforts to develop a vaccine for COVID-19.
UQ’s ‘Molecular Clamp’ project uses technology that ensures the vaccine induces an immune response that recognises and then neutralises the virus.
In mid-July it was announced that a Phase 1 clinical trial involving 120 healthy adult volunteers has begun with the first does of the UQ COVID-19 vaccine being given at the Brisbane clinic of clinical trials specialist, Nucleus Network.
Glencore’s funding comes from the company’s Community Support Fund, set up earlier this year to assist communities affected by the COVID-19 pandemic.
“We’re honoured to support the Australian medical sector’s efforts to find a vaccine for COVID-19,” a Glencore spokesperson said.
“The University of Queensland’s research is moving at great speed and, while there is a way to go before the vaccine can be considered a success, we are seeing some encouraging results.”
We hope our future funding can make a meaningful contribution to these efforts and we will be cheering the team on in the weeks and months ahead.”
“Philanthropy has played a critical role in our efforts to fast-track an effective vaccine and help save lives across the world,” said Professor Paul Young, co-lead of UQ’s vaccine project.
“With the support of Glencore, government partners and a community of almost 2600 donors, we have been able to combine clinical readiness with scale-up manufacturing, reducing the timeframe to a vaccine by up to six months.”
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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 commodities. The Group's operations comprise over 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 160,000 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.
McArthur River Mining
McArthur River Mining (MRM) is located in the Northern Territory approximately 970 kilometres south-east from Darwin and 60 kilometres south-west of its closest town of Borroloola. MRM mines one of the world’s largest zinc and lead deposits. Established as an underground operation in 1995, MRM converted to open pit mining in 2006. MRM produces zinc and lead in concentrates which are primarily exported through Bing Bong loading facility on the southern coast of the Gulf of Carpentaria. The current mine life extends to 2036.
The mine provides direct employment to about 1,000 people, including contractors. In 2018, we spent $84.7 million on wages, $59.4 million on capital projects, $321.4 million on goods and services – much of which we sourced locally – and $1.8 million on community investment projects.