Glencore closes DRC criminal investigations

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.

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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.