London — Glencore said on Wednesday it would co-operate with US authorities after they demanded documents about the mining firm’s business in the Democratic Republic of Congo (DRC), Venezuela and Nigeria as part of a corruption investigation. The company said it had set up a committee of board members, including chairman Tony Hayward and independent non-executive directors Leonhard Fischer and Patrice Merrin, to oversee its response to the subpoena from the US Department of Justice (DoJ). Hayward said that the company would “co-operate with the DoJ, while continuing to focus on our business and seeking to maximise the value we create for our diverse stakeholders in a responsible and transparent manner”. “Glencore takes ethics and compliance seriously throughout the group,” he added. Switzerland-based Glencore received a subpoena from the DoJ last week requesting documents and records on compliance with the US Foreign Corrupt Practices Act and money-laundering statutes. The US Foreig...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now