Glencore’s $20b impact on the Australian economy

Glencore contributed just under $20b to the Australian economy in 2022, according to the company’s latest report.

The mining company is the largest Australian producer of coal, zinc, lead and cobalt, employing over 18,000 staff and contractors across its 24 mines and processing facilities.

Glencore head of corporate affairs Cassandra McCarthy says the company is proud of its people who make a huge contribution to Glencore’s success.

“When mining does well, Australians do well and our economy does well,” she said. “We should never take that for granted.”

Glencore supports more than 7,000 Australian-based businesses with a total spend of $10.4b on goods and services in 2022.

It also paid $7.5b in taxes, royalties and rates, as well as $2.1b in wages and salaries in that time.

“Glencore has been operating in Australia for more than 25 years, employing two generations of Australian families and continues to make an important contribution to jobs, businesses and the communities where we operate,” Ms McCarthy said.

“We support Aussie businesses that range from the local coffee shop to the country’s leading equipment and mining service providers.”

In 2022, Glencore produced 74mt of coal, 564,000t of zinc, 166,000t of lead and 3,000t of cobalt.

The mining company is also the second largest producer of copper and nickel in Australia after BHP.

Copper production last calendar year was 108,000t, while nickel production was 36,000t, compared with BHP’s 251,000t and 77,000t respectively.