Tuesday, December 06, 2022

Glencore Corruption

 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 DR Congo.

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

Remarking on the culture that developed at Glencore, Mr Justice Fraser said that "bribery was accepted as part of the West Africa desk's way of doing business".

"Bribery is a highly corrosive offence. It quite literally corrupts people and companies, and spreads like a disease," he added.

DR Congo: Miner Glencore pays $180m in latest corruption case - BBC News

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