Swiss-based Glencore said on Monday it would pay $180 million (CHF168 million) to the Democratic Republic of the Congo as part of an agreement covering all present and future claims to alleged corruption by the mining firm in the country between 2007 and 2018.
This content was published on
2 minutes
Reuters/Keystone-SDA/sb
Español
es
Glencore pagará 180 millones de dólares por denuncias de corrupción en el Congo
The commodity trading and mining group saidExternal link the agreement covered corruption allegations including activities in “certain group businesses that had been the subject of various investigations by, among others, the US Department of Justice and the DRC’s National Financial Intelligence Unit and Ministry of Justice”.
Kalidas Madhavpeddi, the group’s chair, said the Zug-based firm is pleased to have reached this agreement “which addresses the consequences of its past actions”.
Glencore, which owns copper, nickel and coal mines around the world and has a large commodities trading division, has faced various investigations into its global operations.
In 2018, the US Department of Justice launched a wide-ranging investigation and requested the company hand over records related to its compliance with the country’s money-laundering laws and the Foreign Corrupt Practices Act in the Democratic Republic of Congo, Nigeria and Venezuela.
More
More
Glencore to plead guilty to bribery charges and pay $1.5bn penalty
This content was published on
Prosecutors say commodities trader approved millions of dollars in corrupt payments for oil access in Africa.
In May 2022, the UK Serious Fraud Office (SFO) charged the group’s subsidiary Glencore Energy UK with seven cases of profit-driven bribery and corruption in connection to oil operations in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.
Swiss-based Glencore subsequently pleaded guilty to multiple counts of bribery and market manipulation and agreed to pay penalties of up to $1.5 billion (CHF1.45 billion) following the US, UK and Brazilian investigations that uncovered corruption at one of the world’s largest commodity traders.
More
More
Glencore UK subsidiary ordered to pay CHF315 million over bribery charges
This content was published on
The penalty ordered by a London court relates to seven bribery offences linked to oil operations in Africa.
Glencore faces Swiss probe over alleged Congo corruption
This content was published on
Swiss prosectutors have opened a criminal probe into Glencore over alleged corruption in the Democratic Republic of the Congo.
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
Switzerland reopens its humanitarian office in Kabul
This content was published on
Switzerland opened its humanitarian office in Kabul in mid-March to provide targeted aid to the Afghan population in distress.
This content was published on
From Wednesday, a Swiss passport will no longer be sufficient to enter the UK - Swiss travellers will also need an electronic travel authorisation.
This content was published on
A German security expert could imagine Swiss soldiers being part of a peacekeeping force in Ukraine after an eventual ceasefire.
Leading Swiss politician favours closer EU defence ties
This content was published on
Co-president of Swiss centre-left Social Democratic Party calls on Switzerland to step up security cooperation in Europe.
This content was published on
A 16-year-old boy was trapped in a shop door during an attempted burglary in Vevey, western Switzerland, on Friday night. He died on the spot.
Glencore faces Swiss probe over alleged Congo corruption
This content was published on
Swiss prosectutors have opened a criminal probe into Glencore over alleged corruption in the Democratic Republic of the Congo.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.