LSE: GLEN
HKEx: 0805
JSE: GLN
Headquarters:
Switzerland
Sector:
Diversified
Government Ownership:
No State Ownership
Pre-tax Revenues (in BUSD):
177.351 (2016)
Number of employees:
not reported
Number of workers
(employees + contract workers):
154,832 (2016)
Company-reported mining worker fatalities:
  • 2015 |
    Employees: 7Contractors: 3
  • 2016 |
    Workers: 16
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

Glencore is one of the five strongest performing companies for Working Conditions, where its best results relate to occupational health and safety: the company has made a formal commitment to provide a safe and healthy working environment and shows evidence of systematic tracking of its performance on this issue. Glencore is also one of the five strongest performers for Environmental Responsibility, largely because of its formal commitment to manage its environmental impacts systematically and its measures to operationalise this commitment. One area that limits Glencore’s performance on Environmental Responsibility is a lack of evidence of site-level disclosure of air quality monitoring data.

Glencore achieves one of the ten strongest results for Economic Development, Business Conduct, Lifecycle Management, and Community Wellbeing. Its performance on Community Wellbeing is driven largely by its formal commitment to respect human rights. Conversely, no evidence was found of the company publicly reporting on its management of human rights issues, nor of it tracking its performance on addressing potential human rights abuses related to its security management.

Glencore’s overall results across all areas are also limited by a lack of evidence on some issues in Lifecycle Management. For example, no evidence was found of the company having systems for applying socio-economic and environmental criteria during investment decision-making or for integrating environmental and social issues into its decision-making on mergers and acquisitions.

Economic Development

0.222 / 1.000

Business Conduct

0.621 / 1.000

Lifecycle Management

0.268 / 1.000

Community Wellbeing

0.280 / 1.000

Working Conditions

0.601 / 1.000

Environmental Responsibility

0.497 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Alumbrera6650364.33
La Jagua2100241.50
Mutanda0000000.00
Porco0000000.00
Rhovan3000000.50

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
AguilarArgentina100Zinc, Lead, SilverUnderground
Altyntau KokshetauVasilkovskyKazakhstan69.7GoldOpen-pit
AlumbreraArgentina50Copper, GoldOpen-pit
Antamina (Glencore)*Peru33.75Molybdenum, Copper, Zinc, Lead, Silver, BismuthOpen-pit
AntapaccayPeru100Copper, Gold, SilverOpen-pit
BankfonteinSouth Africa49.99CoalOpen-pit
BolivarBolivia46Zinc, SilverUnderground
BorwaMototoloSouth Africa38Nickel, Copper, Gold, Platinum, Palladium, RhodiumOpen-pit, Underground
BoshoekSouth Africa80ChromiteOpen-pit
Bracemac-McLeodMatagamiCanada100Zinc, Lead
BulgaAustralia68.3CoalOpen-pit, Underground
CCRCanada100Copper
Caballo BlancoBolivia46Zinc
CalenturitasColombia100Coal
Cerrejón (Glencore)*Colombia33.33CoalOpen-pit
ClermontAustralia25.1CoalOpen-pit
CobarCSAAustralia100CopperOpen-pit
Collahuasi (Glencore)*Chile44CopperOpen-pit
CollinsvilleAustralia100CoalOpen-pit
Ernest HenryAustralia70Copper, GoldOpen-pit, Underground
George Fisher MineAustralia100Zinc
GlendellAustralia100Coal
GoedgevondenSouth Africa74CoalOpen-pit
GraspanSouth Africa49.99CoalOpen-pit
GrekhovskyKazakhstan69.7Copper, Zinc, Lead, Gold
HelenaSouth Africa80ChromiteUnderground
HorneCanada100Copper
Integra UndergroundGlennies Creek CollieryAustralia100CoalUnderground
KendalBankfontein, Lakeside, LeeuwfonteinSouth Africa49.99Coal
KiddKidd CreekCanada100Copper, ZincUnderground
KleinfonteinSouth Africa43.66Coal
KlippanSouth Africa43.66Coal
KoniamboNew Caledonia49NickelOpen-pit
KroondalSouth Africa39.8ChromiteOpen-pit, Underground
La JaguaColombia100CoalOpen-pit
Lebowa MineMototoloSouth Africa38Nickel, Copper, Gold, Platinum, Palladium, Rhodium
Liddell Coal OperationsAustralia67.5CoalOpen-pit
Lomas BayasChile100CopperOpen-pit
MaleevskyKazakhstan69.7Copper, Zinc, Lead, GoldUnderground
MangoolaAustralia100CoalOpen-pit
McArthur RiverAustralia100Zinc, Lead, SilverOpen-pit
MiddelkraalSouth Africa43.66Coal
Mount IsaGeorge Fisher, Blackstar, Handlebar HillAustralia100Copper, Zinc, Lead, SilverUnderground
Mount OwenGlendell, Ravensworth East, Mount Owen, Hunter ValleyAustralia90CoalOpen-pit
Murrin MurrinAustralia100Nickel, CobaltOpen-pit
MutandaDRC69Copper, CobaltOpen-pit
NewlandsAustralia100CoalOpen-pit, Underground
Oaky CreekAustralia55CoalUnderground
PorcoBolivia46ZincUnderground
PunitaquiChile100Copper, Gold, SilverOpen-pit, Underground
RaglanRidder ComplexCanada100Nickel, Copper, Cobalt, Platinum, PalladiumUnderground
RavensworthRavensworth West, NaramaAustralia90CoalOpen-pit
RhovanBritsSouth Africa74VanadiumOpen-pit
Ridder ComplexRidder-Sokolny, Shubinsky, TishinskyKazakhstan69.7Copper, Zinc, Lead, Gold, SilverUnderground
RollestonAustralia75CoalOpen-pit
SpringlakeSouth Africa49.99Coal
Sudbury mineNickel Rim SouthCanada100Nickel, Copper, Cobalt, Platinum, Palladium, RhodiumUnderground
TahmoorAustralia100CoalUnderground
ThorncliffeSouth Africa80ChromiteOpen-pit
TownlandsSouth Africa49.99CoalOpen-pit
TweefonteinSouth Africa89CoalOpen-pit, Underground
UlanAustralia90CoalUnderground
WatervalSouth Africa80ChromiteUnderground
WonderfonteinSouth Africa43.66Coal
YauliyacuPeru97.6ZincUnderground
YauliyacuCasapalcaPeru97.6Copper, Zinc, LeadUnderground
Zhairem ComplexUshkatyn-1, Ushkatyn-3, Zhairem, Zhomar, Zhumanai, Zharemskiy GOKKazakhstan69.7Manganese Ore, Zinc, Lead, Silver, Barium
iMpunziSouth Africa89CoalOpen-pit, Underground
*Joint-Venture not under direct control of the company and not included in RMI assessment

Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)

Mine Site NameAliasesCountryCompany's share (%)ProductsMining typesYear of closure
Baal BoneAustralia0CoalUnderground2011
Bell-Allard SouthCanada100ZincOpen-pit2003
Black Star Open CutAustralia100Zinc2016
Bou JabeurTunisia90Zinc, LeadUnderground2008
BrunswickBathurstCanada100Zinc, LeadOpen-pit2012
Chrome EdenSouth Africa79.5ChromiteOpen-pit2005
CraigCanada100Nickel, CopperUnderground2009
CumnockAustralia90CoalUnderground2003
ElandElandsfonteinSouth Africa74PlatinumOpen-pit2015
Errington-VermilionCanada100Copper, Zinc, Lead, Gold, SilverUnderground1957
Fej LahdoumTunisia90Zinc, LeadUnderground2008
FraserCanada100Nickel, Copper, Cobalt, Platinum, Palladium, RhodiumUnderground2009
GallenCanada100Zinc, GoldOpen-pit2000
GecoWilroyCanada100Copper, ZincUnderground1995
GracielaPerubarPeru99.99Zinc, LeadUnderground2001
Heath SteeleStratmatCanada100Copper, Zinc, LeadOpen-pit, Underground1999
IscaycruzPeru97.6Copper, Zinc, LeadOpen-pit, Underground2015
JuanitaPerubarPeru99.99Zinc, LeadUnderground2008
KatangaKamoto, DRC Copper and Cobalt Project, Kananga, Mashamba, Kov, Musonoi, TilwezembeDRC75.3Copper, CobaltOpen-pit, Underground2015
Lady LorettaAustralia100Zinc, Lead, SilverUnderground2015
MattabiLyon LakeCanada100Copper, ZincUnderground1988
MontcalmCanada100Nickel, CopperUnderground2009
MopaniMufulira, NkanaZambia73.1Copper, CobaltUnderground2015
PerseveranceCanada100ZincOpen-pit2012
RietspruitSouth Africa39.9CoalUnderground2009
Sable ZincZambia100Copper, Cobalt2014
Santa CeciliaPerubarPeru99.99Zinc, LeadUnderground2008
ShaimerdenKazakhstan69.7ZincOpen-pit2014
TekeliKazakhstan69.7Zinc, Lead, Silver1997
Thayer LindsleyOnapingCanada100NickelUnderground2009
TintayaPeru100Copper, GoldOpen-pit2013
West WallsendAustralia70CoalUnderground2016

Assets sold during the assessment period

Mine Site NameAliasesCountryProductsMining types
HorizonSouth AfricaChromite
PerkoaBurkina FasoZinc, Lead, SilverOpen-pit, Underground
PoopoBoliviaZinc
Rosh PinahNamibiaZinc, LeadUnderground

Main Shareholders

As of: 30/03/2018Shares (%)
Qatar Holding, L.L.C. (State of Qatar)8.47
Glasenberg (Ivan)8.4
BlackRock Investment Management (UK) Ltd.5.69
Harris Associates L.P.4.9
Badenes (Daniel Francisco Mate)3.15
Mistakidis (Aristotelis)3.12
Norges Bank Investment Management (NBIM)2.97
Capital World Investors2.07
Legal & General Investment Management Ltd.1.63
The Vanguard Group, Inc.1.63
BlackRock Institutional Trust Company, N.A.1.04
JPMorgan Asset Management U.K. Limited0.6
Standard Life Investments Ltd.0.51
Aberdeen Asset Investments Limited0.43
BlackRock Advisors (UK) Limited0.42

Known Subsidiaries

As of: 31/12/2016Country
Access World Group (formerly Pacorini Group)Switzerland
African Carbon Producers (Pty) LtdSouth Africa
African Fine Carbon (Pty) LtdSouth Africa
ARM Coal (Pty) Ltd.South Africa
AR Zinc GroupArgentina
Asturiana de Zinc S.A.Spain
Britannia Re#ned Metals LimitedUK
Bulga Joint VentureAustralia
Carbones del Cerrejon LLCColombia
Century Aluminum CompanyUSA
Char Technology (Pty) LtdSouth Africa
Chemoil Energy LimitedHong Kong
Clermont Coal Mines LimitedAustralia
Cobar GroupAustralia
Compania Minera Antamina S.A.Peru

Known Tax Jurisdictions

Antigua and BarbudaArgentinaAustraliaBermudaBoliviaBrazil
British Virgin IslandsBurkina FasoCanadaChileColombiaDRC
FranceGermanyHong KongItalyJerseyKazakhstan
LuxembourgMauritaniaNamibiaNetherlandsNew CaledoniaNorway
PeruPhilippinesRussiaSouth AfricaSpainSwitzerland
TanzaniaUKUSAZambia

Recent involvements in Investor/State investment disputes (since 2014)

Case DateCase numberCase descriptionStatus
2016PCA Case No. 2016-39Glencore Finance (Bermuda) Ltd. vs. Plurinational State of Bolivia (Direct expropriations)Pending
2016ARB/16/6Glencore International A.G. and C.I. Prodeco S.A. vs. Republic of Colombia (Mining concession)Pending

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.

This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.