Glencore can confirm that its Colombian subsidiary, Prodeco will commence the process of handing its mining contracts back to the
The mines will remain on care and maintenance (C&M) until the formal process of relinquishing the contracts is complete. The port will continue to operate in line with its obligations as a public service port.
Last month the
The decision to relinquish the mining contracts was not taken lightly and is a disappointing outcome. Grupo Prodeco has over the last 30 years invested in excess of
Prodeco's key priority is its workforce and local communities.
Prodeco will engage with its employees, contractors and host communities on the impact of relinquishing the titles. Prodeco has re-commenced the voluntary redundancy programme which significantly exceeds the statutory requirements under Colombian law.
This process will also be supported by a social transition programme for the workforce and the communities surrounding Prodeco's operations.
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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 145,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
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