Glencore PLC (LSE:GLEN) has said it is paying a further US$180mln into the Democratic Republic of Congo (DRC) to settle past and future corruption claims.
This includes activities in certain parts of its business that have been the subject of various investigations by, amongst others, the United States Department of Justice and the DRC's National Financial Intelligence Unit and Ministry of Justice.
"Glencore is a long-standing investor in the DRC and is pleased to have reached this Agreement to address the consequences of its past conduct,” said Glencore chairman Kalidas Madhavpeddi in a statement.
“Glencore has actively promoted its ethics and compliance programme 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," he added.
Glencore said it has invested substantial resources towards developing a best-in-class ethics and compliance programme.