Mining giant Glencore Xstrata plc has donated $2 million to aid relief efforts in wake of the recent Typhoon Haiyan, which swept through the Philippines claiming thousands of lives and leaving untold devastation in its wake.
Glencore CEO Ivan Glasenberg said his company has a strong commitment to its relationship to the archipelago nation that already ranks among the most impoverished in the Asia-Pacific region. “We have a long standing relationship with the Philippines and this donation will help all those with the relief effort in assisting local communities to recover,” he said. “Our thoughts are with our employees, their families and all the communities impacted by the typhoon.”
The donation was made through the PASAR Foundation affiliated with the Pasar operations of which Glencore owns 78.2%. Pasar is the sole copper smelter and refinery in the mineral-heavy jurisdiction, 21.8% of which is also owned by local investors. Located off the Leyte Islands, Pasar includes a shipping port for other Asian markets, an auxiliary sulphuric acid plant and a plant to produce doré, an alloy of gold and silver.