Following an alert by the NGO Public Eye, the Public Prosecutor’s Office of Switzerland has opened legal proceedings against Glencore International for corruption of official figures in the DRC. Suspicion relates to the allocation of shares in copper and cobalt mines.
3 years ago, the NGO Public Eye, accused Glencore of having allied with Dan Gertler,
an Israeli diamond dealer, to buy stakes in copper and cobalt mines in the DRC. The NGO then denounced ” indications of embezzlement surrounding the acquisition of mines “. It was following this alert that the Swiss Confederation launched criminal proceedings against unknown, then this June, a second proceeding against Glencore International.
The business falls badly for the multinational of Ivan Glasenberg which is in the process of signing with the car manufacturer Tesla an annual supply contract of 6000 tons of cobalt , to extract from its mines in DRC.
As a reminder, Glencore is already undergoing another procedure for suspected corruption, opened in December 2019 by the British Serious Fraud Office (SFO).
Source: Agence Ecofin