Due diligence during acquisition and integration activities

In July 2024, we received final regulatory approval and successfully closed our acquisition of a 77% interest in a Canadian steelmaking coal industrial asset, Elk Valley Resources (EVR). Prior to closing this acquisition, we coordinated our due diligence efforts with corporate functions at EVR including teams from procurement, finance and compliance. 

We reviewed EVR’s supplier due diligence processes and contracting templates to assess the extent to which they were materially consistent with our own. Following the acquisition, we implemented our responsible sourcing processes, questionnaires and contract clauses at EVR. Our Responsible Sourcing team visited EVR in October 2024 to support the implementation of Glencore’s responsible sourcing due diligence processes. This included face-to-face training for EVR’s procurement and communities teams.  

The EVR management team’s support and buy-in contributed to the successful integration of EVR into our Responsible Sourcing Programme.