It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo.
The world’s biggest commodity trader is facing the possibility of a bribery investigation by British prosecutors over its work with Dan Gertler, an Israeli billionaire and close friend of Congo President Joseph Kabila.
That’s on top of other disputes, like a conflict with Gertler over unpaid royalties. The Swiss trader is also fighting the government over a new mining code that hikes taxes, and is part of a court case with Congo’s state-owned miner Gecamines, which is pushing to dissolve a local operating unit, saying Glencore overburdened it with debt. Continue Reading →