What is Glencore known for?

What is Glencore known for?

Founded in the 1970s as a trading company, we have grown to become a major producer and marketer of commodities – employing 135,000 people around the world. Our operations comprise around 150 mining, metallurgical and oil production assets.

Who owns Glencore AG?

Glencore

Does Glencore use child labor?

Glencore buys a large portion of the ore mined by the workers, while systematically turning a blind eye to the issues of child labour and to the fatal or life-changing accidents which result from its extraction. Zinc, silver and lead have been mined in Porco for 700 years – it is Bolivia’s oldest mine.

Who are Glencore’s main customers?

Glencore’s customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore’s companies employ around 158,000 people, including contractors.

Is Glencore corrupt?

Investigations into corruption at Glencore have been underway since 2018, as the firm faces allegations of bribery and market manipulation. Glencore has announced its decision to set aside $1.5bn to resolve investigations into bribery and corruption at a number of its operations.

Is Glencore unethical?

An Environmental Justice Atlas case study alleges that Glencore’s subsidiary Kantaga Mining operates a copper-cobalt mine which has polluted local water sources, been linked to child labour, engaged in tax evasion and threatened human rights defenders.

Does Tesla use cobalt from Congo?

Tesla struck a deal in 2020 with Glencore (LON: GLEN) to buy cobalt from its Congo mines, but it has also been seeking to reduce its reliance on the metal. DRC holds around 70% of the world’s reserves of cobalt, crucial for the lithium-ion batteries used in the fast-growing EV sector.

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