Glencore forks out $180m to Kinshasa over corruption allegations
Several senior Glencore executives were involved in preparing the trader's agreement to compensate RDC $180m for its responsibility in past corruption, as announced on 5 December.
Vast Resources s'intéresse au Botswana, un pays où son président Brian Moritz mène des activités d'exploration de diamants à travers une entreprise qu'il a cofondée. La société britannique a enregistré le 15 février une filiale à Gaborone nommée Vast Resources Botswana.
As the Glencore chief executive Ivan Glasenberg prepares to step down from the trading company, his predecessor Marc Rich's heirs have kept Switzerland as the base for his family office and foundation. Home to Glencore's founder, the small country also hosts Glasenberg and the trading group.
Katanga Mining, a Glencore subsidiary operating a copper mine in DR Congo, and American shareholders who took a class action against it in the United States, reached an agreement in late December with a view to ending the dispute.
The investigation started by the American Department of Justice in 2019 into suspected corruption at Glencore subsidiaries in the DRC, Nigeria and Venezuela is beginning to have an impact on the businss of the giant trading group.
Despite the proven potential of the lithium project in Manono, former-president Joseph Kabila's brother's stronghold, Simon Cong sold his shares. The influential Chinese businessman and long-time investor in the project did so as an ownership dispute over the site is pending.
Glencore's American shareholders, who are seeking compensation for stock exchange losses they claim resulted from suspicions of corruption in the DRC mining sector involving the trading group and businessman Dan Gertler, have had their case dimissed by a US court.
Katanga Mining shareholders have extended their class action against the company to members of the management team at its parent company, Glencore. Until now, it had only been suing the former CEO and finance officers at Katanga Mining itself.