For the 2021 financial year, Glencore paid USD 856 million in taxes, duties and royalties to the Government of the DRC

Mining giant Glencore paid US$856 million in taxes, duties and royalties to the Government of the Democratic Republic of Congo (DRC) in fiscal year 2021.

This is what emerges from the report that Glencore published on June 30, 2022 on its website (www.glencore.com) concerning the various payments made to the DRC Public Treasury in 2021. A report that complies with the requirements in reporting requirements of Chapter 10 of the European Union (EU) Accounting Directive.

To this end, Glencore’s contribution to the economy of the Democratic Republic of Congo during the 2021 financial year is distributed as follows:

• 856 million USD of payment in taxes, royalties;

• $4.3 million of socio-community investment;

• 293 million USD of investment in the DRC.

• 14,800 employees and contractors were associated with the activity of the mining company.

“We have been present in the Democratic Republic of Congo (DRC) since 2008, where we manage two industrial copper and cobalt operations, Kamoto Copper Company SA (KCC)–a partnership with Gécamines Gécamines in which we hold 75% of the shares – as well as Mutanda Mining SARL (MUMI)”, indicates the communication department of Glencore on their website.

And to add: “ To date, we have invested more than 8 billion US dollars in the development of MUMI and KCC. Our presence in the DRC has contributed to the establishment and expansion of a robust extractive sector, created thousands of jobs, supported the development of the local economy and generated socio-economic benefits for the Lualaba region. »

With its business development program (PDE), Glencore supports the training of future Congolese entrepreneurs who will become the spearhead of the local economy.

Convinced that the private sector can play a key role in the accession of the DRC to the rank of world giant in the mining industry, the leaders of Glencore consider that a fair energy transition cannot be conceivable without a responsible supply of metals and minerals from the Democratic Republic of Congo (DRC).

“ Thus we are working in partnership with the Congolese Government on strategic projects, essential to stimulate economic activities at the national level” , reads the press release posted online.

It should be noted that thanks to a financial investment of 450 million US dollars, Glencore was able to contribute to the rehabilitation of two turbines of the Inga dam as well as to other strategic infrastructure projects, allowing the production of 450 megawatts, 50 of which were made available to the population of Kolwezi.

Glencore’s social and community investments amount to more than US$4 million per year, and MUMI has committed US$13 million to social development initiatives in Lualaba over the next five years.

“ We believe that legal and legitimate artisanal and small-scale mining (ASM) can play an important and sustainable role in the economy of the DRC, and that it can coexist with large-scale mining when that it is conducted in a responsible and transparent manner. We are a founding member of the Fair Cobalt Alliance (FCA), which works towards the positive transformation of ASM in the DRC . “, they specify.

Each year, Glencore organizes a summer camp to encourage children and young people to pursue alternative careers and not take part in illegal mining activities.

Between 2016 and 2021, more than 55,000 children have benefited from this initiative, according to the same report.

As one of the largest commodities companies in the world, Glencore is present at many levels of the commodities supply chain through our operations.

As a result, Glencore supports the Governments of the countries that host their activities in their desire to create value from their natural resources. This is part of the mining company’s goal to responsibly source the raw materials that improve everyday life.

Glencore is one of the world’s largest diversified commodities companies and a major producer and trader of over 60 commodities.

Through a network of assets, customers and suppliers located around the world, Glencore produces, processes, recycles, purchases, markets and distributes the commodities that enable decarbonization while meeting today’s energy needs.

Glencore businesses employ approximately 135,000 people, including contractors.

With a strong presence in more than 35 countries and in established and emerging commodity-holding regions, Glencore’s industrial activities are supported by its global marketing network with more than 40 offices.

Glencore’s customers are industrial consumers, particularly in the automotive, steel, power generation, battery manufacturing and petroleum sectors.

Glencore also provides financing, logistics and other services to commodity producers and consumers.