Annual Report
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About Glencore Glencore is one of the world’s largest diversified natural resource companies and a major producer and marketer of more than 90 commodities. We employ around 160,000 people across about 150 mining and metallurgical sites, oil production assets and agricultural facilities. CORPORATE PROFILE AUSTRALIA Glencore’s industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries. We service a diverse range of industrial customers, including from the construction, automotive, steel, power generation, telecommunications and food processing 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 also an active participant in the Extractive Industries Transparency Initiative. Glencore’s business is divided into four sectors: Metals and Minerals, Energy Products, Agricultural Products for bindingShort page and Marketing. More information is available at www.glencore.com www.glencore.com.au Diversified. Dedicated. Driven. Corporate Profile Australia 1 Contents During 2015 in Australia, we contributed About Glencore in Australia more than $13.5 billion to the regional, ABOUT GLENCORE Australia is an important part of our global business. We’ve operated here 1 Glencore in Australia state and national economies. for nearly 20 years and hold significant interests in a range of commodity 2 Glencore’s history in Australia 3 Our role and focus areas industries across all mainland states and the Northern Territory. 4 Our business model Our most significant economic contribution comes from our Headquartered in Sydney, we are a major Australian We take a disciplined approach to capital management METALS AND MINERALS core business activities: employing people, sourcing from local employer, with about 16,000 people working across industries and invest where we can create value for our shareholders. 7 Copper communities, and paying taxes to our host governments. that include coal, copper, cotton, grain and oilseeds, nickel, The nature of our investment is highly capital intensive, 9 Zinc oil and zinc. long-term and requires a stable and predictable investment environment. 10 Nickel Our business has grown steadily through acquisition, 11 Glencore Technology including Viterra’s agriculture business in 2012 and Xstrata’s The global resources and commodity industries are mining business in 2013. continuing to face a number of challenges as a result of ENERGY PRODUCTS wider macroeconomic uncertainty, slower growth in many 13 Coal JOBS TAXES & ROYALTIES Within many of our Australian operations, we explore and parts of the world, weakened demand for some commodities originate the commodity; produce it; process and refine 15 Oil and continued oversupply in others. Glencore is focused on it; market and blend it; and ultimately handle, store and maximising the margins, rather than the volumes, of the 17 AGRICULTURAL transport it to our customers around the world. PRODUCTS 16,000 $1.3 b commodities we produce. 18 MARKETING DIRECT EMPLOYMENT PAID TO STATE AND ACROSS AUSTRALIA FEDERAL GOVERNMENTS 19 GLENCORE’S TAX AND ROYALTY PAYMENTS IN AUSTRALIA Darwin OUR INTEGRATED SUPPLY CHAIN WAGES CAPITAL 21 Copper Bing Bong LoadingBorroloola Facility 22 Zinc INVESTMENT 23 Nickel Townsville 24 Coal $1.9 b 25 Agricultural Products ANNUAL WAGES AND SALARIES PAYMENTS Bowen Short page for bindingShort page $1.3 b Mount Isa Mackay 26 HEALTH, SAFETY, ON SUSTAINING AND ENVIRONMENT EXPANSIONARY INVESTMENT ACROSS OUR AND COMMUNITY AUSTRALIAN BUSINESSES HIGHLIGHTS FOR 2015/16 Gladstone 28 Supporting our local communities Brisbane SPEND COMMUNITIES Kalgoorlie Perth Cobar Kwinana $9 b $10 m Newcastle ON GOODS AND SUPPLIERS, INCLUDING REGIONAL COMMUNITY Sydney SUPPORTING OUR LOCAL SUPPLIERS INVESTMENT INITIATIVES Adelaide Port Kembla ( Regional headquarters) Melbourne Metals and Minerals: Agricultural Products: Copper Farms Nickel Key upcountry storage sites Zinc Container packing and processing facilities Energy Products: Oil City/Town Coal Port facilities and storage All figures are for 2015 and in Australian dollars Technology Our Bulga Open Cut operations in the NSW Upper Hunter region 2 GLENCORE Diversified. Dedicated. Driven. Corporate Profile Australia 3 Glencore’s history in Australia Our role and focus areas THE COMMODITIES WE PRODUCE We aim to foster sustainable growth wherever we Glencore has been investing in Australia for nearly 20 years. PLAY AN IMPORTANT ROLE AT HOME operate, creating shared value for our business, AND ABROAD local communities, government and other stakeholders. This is central to our values and During that time our business has successfully navigated We make a significant contribution to some essential for our license to operate. commodity cycles, including both natural resource booms of Australia’s strongest and most competitive industries. As well as servicing domestic markets, Supporting the communities in which we and downturns. we export our products all over the world. are privileged to operate is fundamental to our approach. We focus on partnerships and These natural resources help maintain and IN 2015 initiatives that fulfil longer-term community From a small start through the acquisition of the Cumnock enhance the living standards of millions of people requirements, tailoring programs to the and lift others from poverty. As the world’s and Mount Owen coal mines in 1998, we have steadily grown unique characteristics and needs of individual population grows to almost 10 billion people by communities. % our Australian operations. 2050* and living standards continue to rise across much of the developing world, demand for many For more information about our 87OF OUR The majority of our growth has come through acquisition, key commodities continues to rise. Australian sustainability performance, EMPLOYEES AND visit www.glencore.com.au. both global and local, but we have also built new operations We compete in a global marketplace to supply, trade and transport products to consumers, and A WORLD-CLASS EMPLOYER and expanded existing production where appropriate. in doing so, we create value for our shareholders. % Our people are fundamental to our success 68OF OUR We’ve consistently made large investments throughout the SUSTAINABILITY IS INTEGRATED INTO and growth. OPERATIONAL ALL ASPECTS OF OUR BUSINESS Employing locally is a priority for our business MANAGERS commodity cycle – at times when commodity prices are high WERE ENGAGED We are proud of the work we do and are and an important part of our socio-economic FROM, OR LIVING and also at times when they are low. Every investment we committed to continuously improving our contribution to the communities that surround IN, THE LOCAL performance in health, safety, environmental our operations. In 2015 87% of our employees and COMMUNITIES make must represent value for shareholders. stewardship and community engagement. 68% of our operational managers were engaged IN WHICH WE OPERATE from, or living in, the local communities in which This investment has sustained thousands of existing jobs and we operate. SAFE WORK created thousands more, both directly and indirectly. We employ a broad range of experts in their EVERY SINGLE INDIVIDUAL chosen fields, including geologists, engineers, HAS THE AUTHORITY TO STOP accountants, IT professionals, mechanics, UNSAFE WORK environmental scientists and lawyers. The health and safety of our people is our MIM Holdings Limited We choose the best people for each position; top priority. Our ambition is to be a leader Mount Isa Mines Jubilee Mines people who are willing to learn, are passionate MIM Holdings Limited in safety and to create a workplace free from Ernest Mount Henry Isa Mines Mining JubileeSinclair Mines United Wambo about their work, and strive to be leaders in their CopperErnest Refi Henry neries Mining CosmosSinclair UnitedClermont Wambo fatalities, injuries or occupational diseases. field. We invest in our people through ongoing TownsvilleCopper RefiPort neries Operations Cosmos Clermont training and development opportunities to grow Bowen Coke Xstrata acquisition In 2014 we commenced the implementation Townsville Port Operations Tahmoor their skills, expertise and experience. CSA Mine Xstrata IPO McArthurBowen RiverCoke Mining Tahmoor Xstrata acquisition of our SafeWork initiative, first developed Ulan West CSA Mine Xstrata IPO OakyMcArthur Creek River Mining by our Australian coal business. This global Our employees are also ambassadors for our Teralba Cook Newlands Liddell RavensworthUlan North West Oaky Creek (expansion) program focuses on changing attitudes values, including our: West Wallsend Narama Collinsville Liddell RavensworthRolleston North Teralba Cook Newlands (expansion) towards safety to bring about sustainable Westside Rolleston (expansion) Rolleston West Wallsend RavensworthNarama Collinsville Resource Pacifi c McArthur • Commitment to protect the health and safety Liddell (expansion) long-term change. The program revolves Westside Ravensworth Rolleston ResourceRavensworth Pacifi c River Mining of all our people United Ulan Glencore Grain Underground (expansion)McArthur Chemoil around 12 principal hazards identified at Liddell Ravensworth River Mining United Ulan Glencore Grain Underground (expansion) Chemoil our operations and controls and procedures • Entrepreneurial