Commodities giant Glencore is ordered to pay over $150M in wake of Congo mining bribery case

Federal prosecutors in Switzerland said Monday they have found Glencore’s international unit “criminally liable” and ordered the commodities giant to pay over $150 million in fines and compensation after ending a probe of bribery in connection with Congo’s mining industry over a decade ago.

The Swiss attorney general’s office said Glencore International AG failed to take adequate measures to prevent bribery of a Congolese public official by a business partner over its purchase in 2011 of minority stakes in two companies from the central African country’s state mining company.

Glencore did not admit to the findings but said it would not appeal.

The Switzerland-based company said the attorney general’s office did not find that any company employees knew of the bribery by the business partner, nor did Glencore “benefit financially” from the partner’s conduct.