The Swiss-based mining giant, Glencore, has said it will pay $180m to the Democratic Republic of Congo to cover corruption allegations. Watch this video to know more.

Swiss mining giant Glencore agrees to pay $180 million in corruption case

<p>Switzerland-based mining company Glencore will pay $180 million to the Democratic Republic of Congo to settle a series of corruption claims covering a period between 2007 and 2018. The development is the latest in Glencore's&nbsp;series of corruption-related payout aggregating up to $1.6 billion in fines this year.&nbsp;</p>

<p><strong>WATCH -&nbsp;<a href="https://www.wionews.com/videos/wion-business-news-glencore-under-scanner-for-bribery-530745">WION Business News | Glencore under scanner for 'bribery'</a></strong></p>

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<p>Following an investigation by the US, British and Brazilian authorities, the company in May had admitted that it had bribed officials in several African nations including Democratic Republic of Congo.</p>

<p>Glencore,&nbsp;despite the&nbsp;clouds of corruption payouts dominating the skies of its assets,&nbsp;is forecasted to collect the rainy profits of nearly $3.2 billion this year.</p>

<p><strong>ALSO READ -&nbsp;<a href="https://www.wionews.com/world/glencore-faces-steep-penalties-over-african-bribery-scandal-mining-corporation-used-private-jet-to-fly-bribe-530749">Glencore faces steep penalties over African bribery scandal; mining corporation used private jet to fly bribe</a></strong></p>

<p>In May, the US Department of Justice had said that Glencore conspired to pay around $27.5 million to third parties to secure "improper business advantages" in the Democratic Republic of Congo, while "intending a portion of the payments to be used as bribes".</p>

<p>Lately, a UK court last month ordered the company to pay more than £285m over bribes given in African nations that were found to be linked to its London-based commodities trading desk.&nbsp;</p>

<p>Glencore owns several assets in the country, including the Mutanda copper-cobalt mine and a controlling stake in Kamoto Copper Company, a large copper-cobalt project.</p>

<p>"Glencore is a long-standing investor in the DRC and is pleased to have reached this agreement to address the consequences of its past conduct," Glencore's chairman Kalidas Madhavpeddi said.</p>

<p><strong>Glencore corruption row</strong><b>:&nbsp;</b><strong>Bribes given across Africa, Latin America</strong></p>

<p>In May, Glencore also admitted to paying millions in bribes to officials in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria, South Sudan, Brazil and Venezuela.</p>

<p>Glencore's chairman has admitted "unacceptable practices" have taken place but that the firm today is "not the company it was".</p>

<p>Glencore is one of the world's largest commodities companies, employing around 135,000 people in more than 35 countries, including India, UAE, Thailand, Indonesia, Malaysia and Japan.&nbsp;</p>

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Switzerland-based mining company Glencore will pay $180 million to the Democratic Republic of Congo to settle a series of corruption claims covering a period between 2007 and 2018.

Switzerland-based mining company Glencore will pay $180 million to the Democratic Republic of Congo to settle a series of corruption claims covering a period between 2007 and 2018. The development is the latest in Glencore's series of corruption-related payout aggregating up to $1.6 billion in fines this year. WATCH - WION Business News | Glencore under scanner for 'bribery' × Following an investigation by the US, British and Brazilian authorities, the company in May had admitted that it had bribed officials in several African nations including Democratic Republic of Congo. Glencore, despite the clouds of corruption payouts dominating the skies of its assets, is forecasted to collect the rainy profits of nearly $3.2 billion this year. ALSO READ - Glencore faces steep penalties over African bribery scandal; mining corporation used private jet to fly bribe In May, the US Department of Justice had said that Glencore conspired to pay around $27.5 million to third parties to secure "improper business advantages" in the Democratic Republic of Congo, while "intending a portion of the payments to be used as bribes". Lately, a UK court last month ordered the company to pay more than £285m over bribes given in African nations that were found to be linked to its London-based commodities trading desk. Glencore owns several assets in the country, including the Mutanda copper-cobalt mine and a controlling stake in Kamoto Copper Company, a large copper-cobalt project. "Glencore is a long-standing investor in the DRC and is pleased to have reached this agreement to address the consequences of its past conduct," Glencore's chairman Kalidas Madhavpeddi said. Glencore corruption row: Bribes given across Africa, Latin America In May, Glencore also admitted to paying millions in bribes to officials in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria, South Sudan, Brazil and Venezuela. Glencore's chairman has admitted "unacceptable practices" have taken place but that the firm today is "not the company it was". Glencore is one of the world's largest commodities companies, employing around 135,000 people in more than 35 countries, including India, UAE, Thailand, Indonesia, Malaysia and Japan. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Mining major Glencore to pay $180m to DR Congo to settle 'corruption claims'

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Swiss mining giant Glencore agrees to pay $180 million in corruption case

Mining major Glencore to pay $180m to DR Congo to settle 'corruption claims'