The commodity giant Glencore is again fined millions for corruption

The raw materials company Glencore has been found guilty again in a corruption case. The Swiss company must have one 140 million euros payment of fines and damages.

Since 2018, the Dutch Public Prosecution Service has been investigating possible bribery of high-ranking officials in the Democratic Republic of Congo. The case was about licenses for cobalt and copper mines in that country.

The Swiss Public Prosecution Service also investigated the case. Both countries ultimately decided that it was more sensible to impose the penalty in Switzerland, as the company is based there. Now that this has happened today, the case is at the Dutch Public Prosecution Service has been dismissed.

Glencore’s business partner bribed a senior Congolese official in 2011. As a result, he received minority shares in the state-owned mining company for less than its value. Glencore also benefited from the benefits of that deal. In addition, according to the Swiss authorities, the company did not do too little to prevent corruption.

The Swiss company will not appeal against the sentence. This brings to an end another corruption case against Glencore. In the past two years, the company also pleaded guilty in cases raised by the Americans in Britten corruption charges were filed in several other African countries, Brazil and Venezuela. The issues have already cost the company more than a billion euros.

Earlier this week he became known that the British will also accuse several (key) employees of the trading company.