Tuesday, February 7, 2023

Glencore pays $180 million in fines

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Glencore pays $180 million to Congo in bribery scandal

The mining company Glencore settles a corruption affair in the Democratic Republic of the Congo (DRC) with a payment of 180 million dollars. This also covers possible future claims by the state.

Glencore settled a corruption affair in the Democratic Republic of the Congo (DRC) with a payment of 180 million dollars. (icon picture)

The agreement covers all current and future DRK claims that could arise from “alleged” acts of corruption by the group in the country between 2007 and 2018, the Zug-based group announced on Monday.

Glencore had been targeted by various regulators for its activities in the DRC. For example, by the US Department of Justice (DOJ) and in Switzerland by the Federal Prosecutor’s Office.

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