Glencore to pay 1.2 billion pounds for bribery and market manipulation in the US, UK and Brazil

Glencore is ready to set up lengthy investigations by the US, UK and Brazilian authorities into bribery and market manipulation.

After yesterday’s trial, the mining giant, based in London, expects to pay about 1.2 billion pounds to settle investigations, and said he pleaded guilty to charges of serious fraud in connection with the bribery investigation.

The company noted that the investigation of corruption by the authorities of Switzerland and the Netherlands is still ongoing, but the deadline for their completion remains “uncertain.”

Penalties: London-based mining giant Glencore ready to stage long-running US, UK and Brazilian investigations into bribery and market manipulation

CEO Gary Negle said: “Such behavior has no place in Glencore, and the board, the management team and I have a very clear understanding of the culture we want and our commitment to be a responsible and ethical operator wherever we work.”

The expected payment for the settlement of investigations was postponed by Glencore in its annual results in February, when Negl said the company wanted to clear its operations.

Glencore shares rose 1.3 percent, or 6.4 points, to 519.4 points

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