By Ian Walker

Glencore PLC said Monday that it has reached an agreement with the Democratic Republic of Congo over alleged acts of corruption between 2007 and 2018, and will pay $180 million.

The FTSE 100-listed commodity mining and trading company said the agreement covers all present and future claims including those that have been under investigation by the U.S. Justice Department and the DRC's National Financial Intelligence Unit and Ministry of Justice.

"Glencore has actively promoted its ethics and compliance program in the DRC in recent years and looks forward to continuing to work with the DRC authorities and other stakeholders to facilitate good governance and ethical business practices in the country," Chairman Kalidas Madhavpeddi said.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

December 05, 2022 02:15 ET (07:15 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Glencore (LSE:GLEN)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Glencore Charts.
Glencore (LSE:GLEN)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Glencore Charts.