Glencore is committed to the highest standards of corporate governance and transparency and supports increased transparency around the redistribution and reinvestment of our payments to governments.

The tax and royalty payments we make in connection with our activities can be used to provide the citizens of those countries with government services and infrastructure to improve their quality of life. Taxes, royalties and the like, however, are only one element of our broader economic and social contribution in Canada.

Our approach to tax payments reflects our values, our Code of Conduct and our long‑term business strategy, dictating that we seek to maintain long-term, open, transparent and cooperative relationships with tax authorities in our host countries. We pay all relevant taxes, royalties and other levies in amounts entirely determined by the legislation of relevant national, regional or local governments. We also comply with reporting requirements in Canada under the Extractive Sector Transparency Measures Act (ESTMA).