Switzerland-based mining company Glencore has announced it will pay $180 million (£147 million) to the Democratic Republic of Congo to settle corruption allegations.
The agreement covers a period of 11 years from 2007 to 2018.
It’s the latest in a string of corruption cases in which Glencore has agreed to pay more than $1.6 billion in fines this year.
In May she admitted to bribing officials in several African countries, including Nigeria, Cameroon and Congo.
This followed an investigation by American, British and Brazilian authorities, which also included allegations of corruption in Latin America.
Despite the fines, Glencore is expected to post record profits of around $3.2 billion this year.
The mining company said the settlement with the Democratic Republic of the Congo (DRC) covers “all present and future claims arising from alleged acts of corruption” by the Glencore group between 2007 and 2018.
The comparison follows investigations by the authorities of the African country and the US Department of Justice, it said.
“Glencore is a long-standing investor in the DRC and is pleased to have entered into this agreement to address the consequences of its past conduct,” said Kalidas Madhavpeddi, Glencore’s chief executive officer.
Glencore is one of the world’s largest commodity companies and employs around 135,000 people in more than 35 countries.
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