Glencore Paid The Congolese Government $180m

Global mining giant Glencore has reportedly struck a deal with the Democratic Republic of Congo (DRC).

The agreement covers all existing and future compensation for alleged corruption by Glencore in Congo between 2007 and 2018.

Glencore's activities have been the subject of investigations by the US Department of Justice, the DRC's National Financial Intelligence Agency and the Justice Department.

Under the deal, Glencore will pay $180m to the DRC government and continue an ethics and compliance programme in the country on behalf of its Congolese affiliates.

Glencore chairman Kalidas Madhavpedi said Glencore was a long-term investor in DRC and was pleased to have reached this agreement to address the consequences of its past actions.

Glencore has also taken remedial action against allegations of bribery, failure to prevent bribery and allegations of market manipulation at some group operations based in the UK, US and Brazil.