This week, Switzerland’s Office of the Attorney General (OAG) announced it had fined and closed its criminal investigation against the mining company Glencore International AG.
After a four year investigation, OAG closed its criminal investigation against the Swiss-based company and imposed a CHF 2 million fine for failing to take all necessary and reasonable organisational measures with regard to the bribery of foreign public officials in connection with the acquisition of stakes in two mining companies in the Democratic Republic of Congo (DRC) in 2011.
The summary penalty order issued on 5 August 2024 holds Glencore criminally liable for failing to take all necessary and reasonable measures to prevent the bribery of a Congolese public official by its business partner. The bribery by the business partner took place in 2011 in connection with his acquisition of stakes from a state-owned mining company for less than their value. The mining shares were taken over by the business partner, who also safeguarded the interests shared with Glencore. Glencore also failed to ensure adequate management of the resulting risks, said OAG.
Glencore was ordered to pay a fine of CHF 2 million and a compensation claim amounting to USD 150 million.
The fact that Glencore has cooperated with the prosecuting authorities since the opening of the criminal investigation in June 2020 was taken into account in the reduction of the penalty.
These rulings conclude the OAG’s criminal investigation against Glencore on criminal liability of the company in relation to the acquisition and operation of its mining companies in the DRC between 2007 and 2017.
Glencore has declared that it will not appeal against the summary penalty order and the abandonment order. These rulings are therefore final, said OAG.
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OAG press release (in French) – Take a 5 minute French test now
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