Giant raw materials often accused of collusion with African diets, Glencore is today in the sights of Uncle Sam.
In a statement released on Tuesday, the Zug group (Switzerland) announced that it has been summoned by the US Department of Justice in a corruption investigation into its activities in Nigeria, the Democratic Republic of Congo (DRC) and the United States. Venezuela. “The requested documents are related to the business activities of Glencore in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to today,” said the group’s management in its statement. The company says it will “review the quote and provide other information in a timely manner.”
For observers and analysts, the assignment of US justice against the mining is not a surprise, however, the firm has regularly hit the headlines in recent years because of its troubled relationship with operators sulfur and corrupt regimes. Glencore’s relations with Dan Gertler are at the heart of the suspicions of US justice, the Israeli businessman is already under US sanctions since last December, for “corruption and looting of natural resources in the Democratic Republic of Congo “. A cumbersome partner who continues to do business with the Swiss group: as part of their joint operations in the DRC, Glencore has committed, a few weeks ago, to pay Dan Gertler dividends in euros (110 million euros). euros per year) to circumvent US laws (payments were previously paid in US dollars).
In the wake of the announcement, the stock has fallen more than 10% in the squares of London and Johannesburg, where the group is listed. The Credit Suisse relativise all the same this fall. In a note on Glencore, the bank emphasizes that “it is at this stage only a request for documents from US authorities, not a formal investigation against the company.” Glencore is present in the DRC through its subsidiaries Mutanda Mining and Kamoto Copper Company, which employ, according to AFP, more than 12,000 people.
