Miner Glencore pays $180m in latest corruption case

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The Kolwezi excavation  successful  DRCImage source, Getty Images

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

The statement covers an 11-year play from 2007 to 2018.

It is the latest successful a bid of corruption cases which has seen Glencore hold to wage retired much than $1.6bn successful fines this year.

In May it admitted bribing officials successful respective African nations including Nigeria, Cameroon and Congo.

That followed an probe by American, British and Brazilian authorities which besides covered corruption claims successful Latin America.

Despite the fines Glencore is expected to marque grounds profits of astir $3.2bn this year.

The mining steadfast said the colony with the Democratic Republic of Congo (DRC) covers "all contiguous and aboriginal claims arising from immoderate alleged acts of corruption" by the Glencore Group betwixt 2007 and 2018.

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

"Glencore is simply a long-standing capitalist successful the DRC and is pleased to person reached this statement to code the consequences of its past conduct," Glencore's president Kalidas Madhavpeddi said.

Glencore is 1 of the world's largest commodities companies, employing astir 135,000 radical successful much than 35 countries.

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