Glencore is committed to operating responsibly and ethically and welcomes fiscal transparency as it encourages the responsible management of revenues from our activities.

The tax and royalty payments we make in connection with our activities can make a significant contribution to national, regional and local economies. 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 Code of Conduct, Group Tax Policy 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 required 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).