1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Glencore plc
  6. News
  7. Summary
    GLEN   JE00B4T3BW64


Real-time Estimate Cboe Europe  -  07:14 2022-08-09 am EDT
461.80 GBX   -0.76%
05:50aAnalysis-BHP needs to pay more for EV, clean energy metals as it returns to dealmaking
03:16aGLENCORE : International Day of the World's Indigenous Peoples
02:28aLondon zinc falls as higher inventories fan demand concerns
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Glencore : publishes Payments to Governments Report 2021

06/30/2022 | 09:33am EDT

Baar, Switzerland
30 June 2022

Today, Glencore published its 2021 Payments to Governments Reporton its website. The report aligns with the reporting requirements of Chapter 10 of the EU Accounting Directive.

Through our activities as one of the world's largest resource companies we are present at multiple stages of the commodity supply chain. We are supporting the governments of our host countries in realising value from their natural resources, in line with our purpose, to responsibly source the commodities that advance everyday life.

Our commitment to fiscal transparency

We are strongly supportive of fiscal transparency, recognising the role it plays in encouraging the responsible management of revenues from extractive activities.

  • We recognise the importance of company ownership information being publicly available. We provide beneficial ownership information on our operating joint ventures across our industrial business.
  • In September 2021, along with four other mining companies, we became a signatory to a statement by companies on beneficial ownership transparency.
  • We have also publicly disclosed on our website, for the first time, details of our active marketing sales/purchase agents.
  • Since 2019, we have publicly stated our commitment towards supporting and encouraging the disclosure of mining and exploration contracts with host governments. We believe this type of contract transparency can support building trust and ensuring accountability in the sector.
  • We welcome the EITI Standard's approach for contract transparency for EITI-compliant countries. Similarly, as a member of the International Council of Mining and Metals (ICMM), we support its Transparency of Mineral Revenues Position Statement, which includes a commitment to contract transparency.
  • With increasing stakeholder interest in material loans repayable with product (also referred to as 'resource backed loans') we have disclosed relevant information on our resource backed loans, to the extent that the information is not commercially sensitive or confidential.
Our 2021 payments

During 2021, our total payments to governments were more than US$7.6 billion. Approximately $4bn are reported pursuant to the EU Accounting Directive extractive industries' reporting requirements. The difference arises from payments related to refining, processing, marketing and trading, as these are not in the scope of the EU Accounting Directive. This marks a significant increase on the US$5.8 billion and US$2.1 billion under the EU reporting requirements paid in 2020, reflecting the global economy's recovery from the impact of Covid-19.

Our global effective tax rate, adjusted for significant items (primarily impairments, foreign exchanges adjustments and tax losses not recognised), was 33.5% (29.7% in 2020 and 30.5% in 2019).

Our contribution to host countries goes beyond the taxes and royalties we pay. During 2021, we paid US$6 billion in wages and benefits for the 135,000 people working for Glencore (including contractors) and US$68 million on initiatives that benefit the communities living around our operations.

We are committed to operating ethically and responsibly in all aspects of our business and determined to foster a culture of integrity, inclusivity and transparency. This commitment includes implementing high standards of corporate governance and transparency.

For further information please contact: Investors

Martin Fewings
t: +41 41 709 28 80
m: +41 79 737 56 42


Charles Watenphul
t: +41 41 709 24 62
m: +41 79 904 33 20

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 60 responsibly-sourced commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that enable decarbonisation while meeting the energy needs of today.

Glencore companies employ around 135,000 people, including contractors. With a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 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 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.
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 on 2019 levels and introduced a new short-term target of a 15% reduction by 2026 on 2019 levels.

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.


Glencore plc published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 13:32:08 UTC.

© Publicnow 2022
All news about GLENCORE PLC
05:50aAnalysis-BHP needs to pay more for EV, clean energy metals as it returns to dealmaking
03:16aGLENCORE : International Day of the World's Indigenous Peoples
02:28aLondon zinc falls as higher inventories fan demand concerns
08/08London zinc falls as higher inventories fan demand concerns
08/08BHP likely to raise bid for 'strategically sensible target' OZ - analysts
08/08LONDON STOCK EXCHANGE : Commodity, banking stocks push FTSE 100 higher
08/08Glencore, Other Cornerstone Investors Commit $4 Million To Swedish Stirling's Planned S..
08/08Glencore, Merafe and the af Jochnick family - cornerstone investors in climate compensa..
08/08EMEA MORNING BRIEFING : Stocks Seen Higher as Investors Weigh Mixed Economic Picture
08/05GLENCORE : Credit Suisse reaffirms its Buy rating
More news
Analyst Recommendations on GLENCORE PLC
More recommendations
Financials (USD)
Sales 2022 276 B - -
Net income 2022 20 200 M - -
Net Debt 2022 25 308 M - -
P/E ratio 2022 3,72x
Yield 2022 9,74%
Capitalization 73 556 M 73 556 M -
EV / Sales 2022 0,36x
EV / Sales 2023 0,38x
Nbr of Employees 81 284
Free-Float 81,3%
Duration : Period :
Glencore plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GLENCORE PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 20
Last Close Price 5,64 $
Average target price 7,21 $
Spread / Average Target 27,8%
EPS Revisions
Managers and Directors
Gary Nagle Chief Executive Officer & Director
Steven F. Kalmin General Manager-Finance
Kalidas V. Madhavpeddi Chairman
Patrice E. Merrin Independent Non-Executive Director
Martin James Gilbert Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
GLENCORE PLC24.11%73 556
BHP GROUP LIMITED-5.73%138 592
RIO TINTO PLC1.34%100 824
GRUPO MÉXICO, S.A.B. DE C.V.-12.92%29 851