MINING MAJOR GLENCORE TO PAY GBP280 MILLION IN UK FINES OVER AFRICAN OIL BRIBERY
November 30th, 2022
International and Switzerland-based mining major Glencore has settled UK bribery cases brought by Britain’s Serious Fraud Office (SFO), accepting a GBP280.9 million (USD314.5 million) penalty ordered by Southwark Crown Court, London.
This followed an SFO investigation revealing that Glencore Energy UK had paid USD29 million in bribes to gain preferential access to oil in Africa between 2011 and 2015. The SFO concluded the bribes enabled Glencore to better access oil in Cameroon, Equatorial Guinea, Côte d'Ivoire, Nigeria and South Sudan. In a statement, the ...
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