U.S. Attorney General Merrick Garland speaks during a May 24, 2022, press conference in Washington. Photo: EFE

Swiss mining giant Glencore The Department of Justice announced on Tuesday, May 24, that it had agreed with US authorities to pay more than 1,000 1,000 million in fines to resolve two investigations into alleged bribery and price manipulation of the commodity market.

Glencore will announce Guilty in both casesAs the accused will be employees of two former companies involved in the crime, US Attorney General Merrick Garland explained at a press conference.

The MultinationalIn a statement confirming the terms of the agreement, it also announced that it had agreed to admit guilt as part of it and To pay a fine For related research United Kingdom and Brazil.

In the Brazilian case, the company will pay more than USD 39 million, while in the British case the amount is still awaiting confirmation.

Total, Glencore It expects to spend less than the নির্ 1.5 billion already set on 2021 accounts to resolve these investigations.

“We recognize Marked misconduct This has cooperated with the investigation and the authorities. There is no place for such behavior Glencore“The company is now committed to being a responsible and ethical operator everywhere,” said Gary Nagel, CEO.

According to US authorities, the company He confessed to giving bribe To the officers African and South American countries For more than a decade, and at the same time, it has been recognized that a US subsidiary has devised a plan to manipulate references used to establish oil prices in the country’s two major ports.

“Corporate greed has inspired it Massive abuse. Glencoe has committed these crimes for hundreds of billions of dollars, “Deputy Attorney General Kenneth Polite told reporters.

Glenco will pay the United States an estimated $ 700 million and about $ 485 million to settle the bribery investigation. Oil price fluctuationsThis is the highest punishment in the country so far.

In addition, the company has taken steps to try to guarantee that it will not commit such crimes again, including the presence of independent experts who will monitor that it complies with both. America Like other countries, Garland explained.

In his statement, Glencore He said he was continuing to co-operate in investigations into Switzerland and the Netherlands, which have not yet closed.

The agency insists it has taken action in response to these crimes, including Dismissal of employees involvedAnd that “happened today when it was no longer the company when this was an unacceptable practice”.

In 2021, the Swiss-based group made about $ 5 billion, despite allocating $ 1.5 billion for ongoing lawsuits.

Glencore is one of the largest producers and traders of raw materials in the sector MiningMetallurgy and petroleum and business in more than 70 countries.


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