Glencore injects $11b into NSW
Glencore operations directly contributed $11.1 billion to the New South Wales economy last year.
Glencore is one of Australia’s largest producers of coal, cobalt, zinc, lead, silver, copper and nickel. In NSW, the miner has nine active coal mining operations across the Hunter and mid-western regions.
Glencore’s direct economic contribution to NSW last year included:
providing jobs for 6090 employees and contractors
spending $5.4 billion on goods and services
supporting 3370 businesses
paying $1.1 billion in wages and salaries
paying $4.6 billion in taxes and royalties to governments.
“The NSW mining sector continues to be a significant contributor to the state’s economic prosperity and Glencore is proud to be a part of that effort,” the company said.
“We particularly want to thank our NSW workforce who make a huge contribution to our success and our ability to make a positive difference across both metro and regional Australia.
“We support Australian businesses, ranging from the local coffee shop to the country’s leading equipment and mining service providers across the Hunter and mid-western regions as well as in Newcastle and Sydney.”
Glencore announced yesterday its shareholders have voted for the major miner to retain its coal and carbon steel materials business, leading the major miner to walk away from its original demerger plans.
Since the company finalised the acquisition of Elk Valley Resources in July 2024, its directors have undertaken a consultation process to assess shareholder views on a potential demerger.
Glencore consulted with two-thirds of its eligible shareholders, with over 95 per cent of the shareholders supporting the company in retaining the coal and carbon steel materials business.