TORONTO, April 23, 2026 /CNW/ - Glencore, one of Canada's largest diversified miners and suppliers of critical minerals, released results of a new socio‑economic study that provides a snapshot of the company's economic footprint across its operations in Canada. Conducted by KPMG, the study confirms Glencore's role as a significant driver of national and regional economic activity by supporting tens of thousands of jobs and by generating billions in economic value annually.
According to the study based on 2024 data1, Glencore's Canadian operations directly generate:
- $8.1 billion to Canada's GDP
- ~ 11 000 jobs,
- $1.7 billion in labour income
- $1.4 billion in direct government revenues across all levels of government, and
- $8.8 billion in Canadian supplier spend across the country.
However, when indirect (supply chain) and induced (consumer spending) impacts are included, Glencore's total economic contribution grows dramatically. Across the entire spending cycle, Glencore Canada:
- generates up to $14.3 billion in total GDP,
- supports over 34,000 jobs,
- contributes $6.3 billion in labour income, and
- provides $3.7 billion in government revenues nationwide.
"For many years, Glencore's operations were known locally, but the total impact of all our operations across the country were not well understood. Our report findings confirm what many of our employees and our business partners already know: that Glencore Canada is an important contributor to Canada's economy, creating high‑quality jobs and supporting an integrated supply chain from coast to coast to coast," says Sheila Risbud, Senior Vice President, Corporate Affairs, Glencore Canada. "In many ways, this study quantifies our impact, reinforces the importance of our long-term presence in the country and confirms that Glencore plays a key role in Canada's mining and metallurgical industry."
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1 Figures presented are based on a socio-economic study prepared by KPMG LLP for Glencore Canada Corporation in 2025. All figures reflect 2024 data, are presented in Canadian dollars, and assume a full year of EVR contributions. |
Glencore's Canadian operations play a significant role within the national mining sector. In fact, the study reveals that:
- Glencore directly supports one in every 20 workers in Canada's mining sector2.
- Employee compensation at Glencore is, on average, 90% higher than the national average wage.
- 16% of Canada's mining sector GDP can be attributed to Glencore's Canadian operations3.
Glencore's activities span multiple commodities--including steelmaking coal, nickel, copper, zinc, cobalt and platinum group metals--and involve significant capital investments that support long-term operational stability and broader economic resilience.
The study measured contributions across key provinces where Glencore operates:
British Columbia
Glencore's direct economic impact in B.C., driven primarily by Elk Valley Resources' steelmaking coal operations, includes:
- $5.3 billion in GDP,
- ~3,500 jobs,
- $479 million in labour income,
- $473 million in government revenues, and
- $3.3 billion in annual supplier spend in B.C.
Quebec
As home to the company's largest concentration of Base Metals operations, Quebec benefits from Glencore's direct contribution of:
- $1.2 billion in GDP,
- ~3,400 jobs,
- $538 million in labour income,
- $140 million in government revenues, and
- $1.4 billion in annual supplier spend in Quebec.
Ontario
Ontario--home to nickel and zinc operations and Glencore Canada's head office--sees direct impacts of:
- $712 million in GDP,
- ~2,100 jobs,
- $363 million in labour income,
- $27 million in government revenues, and
- $981 million in annual supplier spend in Ontario.
Additional economic impacts extend across other provinces through interprovincial trade, closed-site management, and national procurement networks.
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2 The mining sector is defined as Canada's metallic and non-metallic metal mining, as well as primary metal and non-metal manufacturing industries. |
3 Source of data: |
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"Glencore's Canadian operations have been part of the national economic fabric for decades, and this study illustrates how deeply integrated we are with the communities, suppliers, and skilled workers who make our operations possible," added Risbud. "We are committed to continuing to create economic value while advancing responsible production of the metals and critical minerals needed for Canada's long-term economic health and prosperity."
For more information on the socio-economic study, visit https://www.glencore.ca/en/who-we-are/our-contribution or find the full report here.
Notes for Editors
About Glencore in Canada
Glencore is a leading natural resources company with a growing presence in Canada. With ~11,000 employees across nine mines and five metal processing facilities, we produce and recycle critical minerals, including nickel, copper, zinc, cobalt, platinum group metals and metallurgical coal.
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About Glencore plc
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that advance everyday life.
With over 140,000 employees and contractors and a strong footprint in over 30 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Important Information
This material does not purport to contain all of the information you may wish to consider. For further important information, including in connection with forward-looking statements and other cautionary information, refer to the Important notice section of Glencore's 2025 Annual Report, which is available at glencore.com/publications. This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities.
Other information
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
SOURCE Glencore Canada Corporation
For further information please contact: Media, Fabrice de Dongo, t: +1 647-220-6582, [email protected]
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