SFO settles decade-long ENRC fraud probe suit
BRITAIN’S Serious Fraud Office has reached a settlement with Kazakh miner ENRC, closing a lawsuit accusing the agency and law firm Dechert of inflicting substantial financial…
US deal on Glencore mines paves way for new mining house
A US government-backed consortium’s plan to buy 40% of Glencore’s copper-cobalt operations in Democratic Republic of Congo could create a vehicle for further mining acquisitions…
Despite Trump’s antipathy, mining companies will not abandon ESG
This article was first published in The Mining Yearbook 2025 In the US, the second administration of President Donald Trump has been dismantling diversity, equity and inclusion…
Busa urges mining industry to guard against corruption
AN impassioned plea to not let corruption yet again ruin South Africa’s promising growth prospects was made today by Business Unity South Africa (BUSA) president Mxolisi Mgojo at…
Glencore slapped with $150m compensation claim
GLENCORE has been found by the Attorney General of Switzerland (OAG) to be criminally liable for failing to prevent the bribery of an official in the Congo by a business partner.…
Former Endeavour Mining CEO diverted $20.9m to UAE
THE former CEO of Endeavour Mining Sébastien de Montessus diverted $20.9m from the company to an unknown entity in the United Arab Emirates (UAE) between 2020 and 2021, the West…
Madagascan president’s ex-aide convicted of offering mining licence for bribes
MADAGASCAN President Andry Rajoelina’s ex-chief of staff was convicted in a London court on Tuesday of offering to help precious stone miner Gemfields win lucrative mining rights…
Rio’s Stausholm estimates $6.2bn spend on Simandou iron ore
RIO Tinto expected to spend $6.2bn developing Guinea’s Simandou iron ore deposit with initial production pencilled in for 2025. Speaking to Bloomberg News, Rio Tinto CEO Jakob…
Nagle’s plan for Glencore rests on this calculated gamble
THREE years after deciding to retain coal production, Glencore has unveiled a proposal to ditch the fossil fuel. Under a deal announced on November 14, it will buy the Elk Valley…
SA Govt to deploy soldiers to curb illegal mining
THE South African government has authorised the deployment of 3,300 soldiers in support of police efforts to curb illegal mining, said Bloomberg News. Citing a statement from the…
Cobalt’s redemption is underway – but it’s no easy road
IS the device you are reading this story on tainted by the blood and sweat of Congolese artisans who laboured in appalling conditions to extract the cobalt that powers its…
Up to 31 illegal miners thought to have perished in disused Harmony Gold vent shaft
UP to 31 suspected illegal miners are thought to have perished at a disused mine at Virginia in South Africa’s Free State province, BusinessLive said. The shaft was previously…
Sibanye-Stillwater says illegal mining out of control as SA’s social distress increases
RECORDED incidents of illegal mining on the premises of Sibanye-Stillwater’s South African operations nearly doubled in 2022, the precious metals miner said. Citing…
US judge orders Glencore to pay $700m as fallout from bribery scandal continues
GLENCORE has been ordered to pay $700m in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries, Reuters reported on…
Glencore agrees to pay $180m in penalties to DRC related to corrupt activities
GLENCORE is to pay $180m to the Democratic Republic of Congo (DRC) for corrupt practices in which it engaged between 2007 and 2018 in an agreement today that also extends to…
UK court orders Glencore to pay R5.7bn for African oil trading bribes
A BRITISH subsidiary of mining and trading group Glencore was ordered to pay a total penalty of £276.4m ($310.6m) in a London court on Thursday for seven bribery offences in…
Profits from coal to power Glencore re-rating following corruption relevations
SHARES in Glencore are tipped for a re-rating following publication of reports by US, UK and Brazilian anti-fraud organisations into corruption perpetrated by the group’s…
Glencore seeks to SA stem political fallout saying President Ramaphosa not involved
GLENCORE sought to quell political fallout in South Africa stemming from findings delivered by anti-fraud organisations last week, saying today the country’s president Cyril…
Glencore to pay $1.06bn in penalties as US, UK, Brazil wrap up corruption investigations
GLENCORE is to pay about $1.06bn in penalties following resolutions agreed with anti-graft organisations in the US, UK and Brazil, the company said on Tuesday. Other…
Glencore sets aside $1.5bn in penalty provision as anti-graft investigations near closure
GLENCORE has set aside $1.5bn in provisions related to penalties it believes may be imposed by anti-graft authorities which are currently running investigations into the group’s…