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Glencore closes DRC criminal investigations

5 Aug 2024

Glencore announced that the Office of the Attorney General of Switzerland (OAG) has closed its criminal investigation against Glencore International. The resolution includes a summary penalty order and an abandonment order. The miner was held criminally liable for failing to prevent the bribery of a Congolese public official by a business partner in 2011. This occurred in connection with the acquisition of minority stakes in two mining companies in the Democratic Republic of Congo.

Glencore has finally reached closure on the DRC criminal case

The OAG stated that it did not find any Glencore employees had knowledge of the bribery, nor did Glencore benefit financially.

Glencore has been fined CHF2m, and the OAG imposed a compensation claim of $150m.

The District of Columbia Court of Appeals is seen in Washington, D.C., USA. Source: Reuters/Andrew Kelly

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The miner cooperated fully with the investigation and has taken significant measures to enhance its compliance program, which were considered mitigating factors in setting the fine.

A parallel investigation by the Dutch Prosecution Service has also been concluded and dismissed.

Pleased with resolution

"Glencore is pleased to have resolved these investigations relating to past matters that occurred over 13 years ago," said Glencore chairman Kalidas Madhavpeddi.

"This resolves the last of the previously disclosed government investigations into historical misconduct."

Madhavpeddi emphasised Glencore's commitment to ethical conduct and compliance with the law.

"Over the last number of years, we have invested heavily to improve our Ethics and Compliance Programme," he said.

We are committed to continuing to enhance the programme and are working to embed ethics and compliance in each facet of our business, no matter where in the world we operate

Glencore has also engaged two independent compliance monitors, mandated by resolutions with the US Department of Justice, to further strengthen its compliance programme.