Miner Glencore pays $180m in latest corruption case




  • In World
  • 2022-12-05 12:33:47Z
  • By BBC
The Kolwezi mine in DRC
The Kolwezi mine in DRC  

The Swiss-based mining company, Glencore, has said it will pay $180m (£147m) to the Democratic Republic of Congo to settle corruption claims.

The agreement covers an 11-year period from 2007 to 2018.

It is the latest in a series of corruption cases which has seen Glencore agree to pay out more than $1.6bn in fines this year.

In May it admitted bribing officials in several African nations including Nigeria, Cameroon and Congo.

That followed an investigation by American, British and Brazilian authorities which also covered corruption claims in Latin America.

Despite the fines Glencore is expected to make record profits of around $3.2bn this year.

The mining firm said the settlement with the Democratic Republic of Congo (DRC) covers "all present and future claims arising from any alleged acts of corruption" by the Glencore Group between 2007 and 2018.

The settlement follows investigations by the African country's authorities and the US Department of Justice, it said.

"Glencore is a long-standing investor in the DRC and is pleased to have reached this agreement to address the consequences of its past conduct," Glencore's chairman Kalidas Madhavpeddi said.

Glencore is one of the world's largest commodities companies, employing around 135,000 people in more than 35 countries.

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