A UK parliamentary committee, The Guardian reports, is likely to press the government into signing an international agreement requiring minerals and mining companies to report how much tax they pay in developing countries.

One of the people questioned by the committee was Tim Scott, global head of tax for Glencore, a mega-corporation dealing in metals, minerals, oil, coal, sugar and grain.

He said that one of the advantages of national reporting of financial information was transparency. But against this benefit, he said, must be weighed the cost of producing such information.

Glencore's consolidated revenues for the year ended 2011 were $186,152 million and its assets amounted to $86,165 million.

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