codeofconduct english 2014
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Corporate Practice
Code of Conduct
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Introduction 1
Our priorities and Values 2
Our priorities 4
Our Values 5
Putting Our Values into practice 6
Putting Our Values into practice 8
Who must follow the Code? 9
Upholding the Code every day 10
Raising concerns 11
Focus areas 12
Health and safety 14
Our people 15
Human rights 16
Communities 17
Environment 18
Communications 19
Compliance 20
Enterprise risk management 24
Quality and product safety 25
Investor relations 26
Protecting and maintaining assets 27
Tax 29
Contacts 30
Contents
1
Introduction
As one of t he world’s largest producers and marketers of bulk commodities, we supply global industry
with the basic ingredients it requires every day.
Combining Xstrata’s extensive industrial mining and processing activities with Glencore’s production
and marketing expertise will allow us to be at the forefront of the supply patterns for natural resources
and their related products.
With our unique business model as a vertically integrated producer and marketer o f commodities, we
can capture value at each stage of the commodities chain. Our reach stretches from extraction and
processing to freight, logistics, technology, storage and marketing.
Amongst our highest priorities has always been the safety and well-being of our workforce. We aim for
continuous improvement in workplace safety, with the ultimate goal of minimising the extent of injuries
and occupational illnesses.
This Code of Conduct has been developed to help those who work for us to embody Our Values. Our
people are essential to Glencore Xstrata continuing to supply the world with the commodities it needs.
Ivan Glasenberg
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Our priorities
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4Entrepreneurialism
Our approach fosters the highest level o
professionalism, personal ownership an
entrepreneurial spirit in all our employee
never compromising on the safety and
of our people. This is important to our s
and the superior returns we aim to achie
all our stakeholders.
Simplicity
We aim to achieve our key deliverables a
a path to industry-leading returns, while
maintaining a clear focus on excellence
quality, sustainability and continuous
improvement in everything we do.
Our priorities Our Values
Creating value
Our combination of extensive industrial
production facilities and activities, in
conjunction with global marketing and
distribution capabilities, is focused on
delivering superior growth and value creation
for the benefit of all our stakeholders.
Meeting global demand
We seek to ensure a consistent and
competitive supply of essential commodities
to industry worldwide. Our commodities
play an integral role in the production of
essential day-to-day products for developed
and developing countries.
Sustainability as standard
We believe that our long-term success
requires us to prioritise health and safety and
environmental management as well as the
welfare of all our workers, contribute to the
development and well-being of the communities
in which we work, and engage in open dialogue
with our stakeholders.
High quality as standard
We endeavour to maintain high standards
of service, business conduct and product
quality every day. We understand our
responsibility to our customers, suppliers and
the communities in which we operate; this
requires the highest standards of quality and
safety throughout our operations.
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Putting Our Values into practice
In this section
Putting Our Values into practice 8
Who must follow the Code? 9
Upholding the Code every day 10
Raising concerns 11
6
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8
Who must fo
Each of us must also take reasonable st
ensure that other individuals or groups a
on behalf of Glencore Xstrata do likewis
The Code applies to Glencore Xstrata’s
marketing activities and industrial opera
controlled by the Group. It applies to all
permanent and temporary employees,
and offi cers as well as contractors (wher
are under a relevant contractual obligat
In joint ventures where we are not the o
we seek to influence our partners towar
adopting similar policies and procedure
wherever possible.
Everyone working for Glen
or role, must comply with t
the aspirations embodied i
actions and decisions and i
Putting Our Values into practice
Glencore Xstrata’s statement of values (Our
Values) stipulates our purpose, our priorities and
the fundamental values by which we conduct
business. It lies at the top of the hierarchy of
documents that form the Glencore Xstrata
Corporate Practice framework.
Glencore Xstrata Corporate Practice is our
corporate governance framework and
programme. The fundamental requirements that
apply across our Group are laid out in this Code of
Conduct (the Code).
Together, Our Values and the Code (including
the underlying policies supporting them and the
associated operational management procedures
for sustainability) represent our commitment to
upholding good business practices. This includes
meeting or exceeding applicable laws and other
external requirements.
Corporate policies
and standards
Operational policies
and standards
Values
Code of
Conduct
(CoC)
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28
Tax
We are committed to full compliance wi
our statutory obligations, full disclosure
authorities and reporting transparently
tax payments that we make to the gove
of the countries in which we operate.
We will continue to review our tax paym
reporting and make appropriate improv
in line with latest best practice and regu
developments.
We work proactively to maximise shareh
value while operating in accordance with
Transfer pricing between Glencore Xstr
Group companies is based on fair marke
whereby exchanges of goods, property
services between group companies are
conducted on an arm’s-length basis.
Glencore Xstrata’s tax stra
intention to achieve long-t
Inside information:
• Is precise and material in that it would be
likely to aff ect an investor’s decision about
whether to make a share transaction related
to the company
• Has not been made public
• Relates directly or indirectly to Glencore Xstrata
or another company that we are doing business
with or are seeking to acquire securities in
• Could have a significant eff ect on the price of
our securities if made public
You must never use inside information to buy, sell
or deal in securities, nor should you disclose this
information to anyone else.
If you are in possession of inside information
relating to Glencore Xstrata you must not deal
in our securities. This also applies to your
“connected” persons (most commonly your
family members).
Glencore Xstrata maintains general insider lists
of personnel who, due to the nature of their
employment or engagement, have, or may have,
access to inside information. These people must
obtain prior clearance from the Company
Secretary before dealing in Glencore Xstrata
securities during a “close period” (usually the
period between a quarter-end and the release
of our next scheduled results or trading update).
If you are not on such a list, you are entitled to
deal in Glencore Xstrata securities at any time,
provided you are not, at the time, in possession
of inside information.
Confidential information about publicly traded
companies other than Glencore Xstrata may also
constitute inside information. If you obtain such
information about another company during your
work, you will be subject to similar restrictions
concerning the securities of that company.
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Page Title
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Contacts
If anybody working for Glencore Xstrata has a
material concern that cannot be resolved by
addressing it to the relevant supervisor or
manager, the concern can be reported to:
CodeofConduct@glencorexstrata.com
External enquiries
For further information on Glencore Xstrata’s
Code of Conduct, please contact:
Sustainability
Michael Fahrbach +31 10 40 44 406
michael.fahrbach@glencorexstrata.com
Company Secretary
John Burton +41 41 709 2619
john.burton@glencorexstrata.com
Communications
Charles Watenphul +41 41 709 2462
charles.watenphul@glencorexstrata.com
Investor Relations
Paul Smith +41 41 709 2487
paul.smith@glencorexstrata.com
www.glencorexstrata.com
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www.glencorexstrata.com
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