Glencore to appear in court over bribery and corruption claims

Glencore will seem in courtroom afterward Tuesday in relation to bribery and corruption allegations for which the London-listed mining group has put aside $1.5bn to cowl potential fines.

The Swiss commodity dealer stated in a inventory market announcement that it might seem in hearings within the UK and the US, and anticipated to difficulty an announcement following their conclusion.

In 2018, the US Division of Justice launched a wide-ranging investigation into Glencore, which required the corporate at hand over data associated to its compliance with the nation’s money-laundering legal guidelines and the International Corrupt Practices Act in Nigeria, the Democratic Republic of Congo and Venezuela.

Authorities within the UK and Brazil have additionally launched probes into the group’s conduct, casting a shadow over one of many world’s largest mining firms for 4 years.

Glencore stated in February that it had taken a $1.5bn provision to cowl fines and prices in relation to the probe, which it anticipated to resolve by the year-end.

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