Glencore says a new report shows its Queensland operations is contributing $6.6 billion to the state economy,
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The owners of Mount Isa mines have commissioned a report from Ernst & Young which showed their business spent $4.5 billion on goods and services from 3780 Queensland suppliers and paid more than $1 billion in taxes and royalties to the Queensland and federal governments last year.
Glencore said their operations contributed $6.6 billion to the Queensland economy last year and employed 8550 people, almost half of Glencore's total workforce in Australia.
"We operate 11 mines across Queensland that play a pivotal role in producing the commodities that are meeting the energy needs of today and advancing the transition to a low carbon global economy," the report said.
Glencore is Australia's largest producer of coal, cobalt and zinc and the second-largest producer of nickel and copper.
Glencore said its Queensland Metals business includesd Mount Isa Mines, "one of the world's largest mining complexes, which produces zinc, copper and lead, and we operate copper and lead smelters and a copper refinery in North Queensland.
"The copper and zinc we produce are key inputs in electric vehicle batteries, solar panels, and wind turbines that will help drive the global transition to a low emission future," the report said.
Matt O'Neill, Chief Operating Officer of Glencore's zinc business in Australia said they made a significant economic contribution to Queensland with support for thousands of businesses and numerous community organisations.
Glencore estimates that the global supply of copper and zinc will need to double by 2050 while cobalt and nickel production will need to quadruple to limit global warming to 1.5c however the report did not show how the business proposed to move out of the high emission coal and oil industries.
The report said Glencore had little disruptions to its business in 2021 due to COVID, "none of its operations had significant production stoppages and the vast majority of its suppliers were able to continue delivering products and services."
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