The world’s largest commodities trader – and one of the mightiest of miners – has published its first-ever sustainability report, many years after the company was established.
It makes for sober – if not shocking – reading, revealing that, between 2008 and 2010, no fewer than fifty six contracted and directly-employed workers went to their deaths at the company’s operations.
Glencore had to pay US$780,000 in major environmental fines last year. (In contrast, BHP Billiton reported environmental fines of US$35,057 for its 2010 financial year, while Rio Tinto paid US$540,328 in fines during FY 2010-2011).
Glencore also paid out US$575 million last year in tax and royalties to governments, on revenues of $10.8 billion. (For their part, BHP Billiton paid US$7.1 billion in company taxes on US$71.7 billion in revenues and Rio Tinto paid $7.45 billion in net taxes to governments on gross revenues of US$60.3 billion).
See http://www.minesandcommunities.org/article.php?a=11163.
See also Glencore in storm over staff safety as 56 killed between 2008 and 2010 ahttp://www.dailymail.co.uk/money/markets/article-2034986/Glencore-storm-staff-safety-56-killed-2008-2010.html.