{"id":1169643,"date":"2020-03-05T11:11:50","date_gmt":"2020-03-05T17:11:50","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016251"},"modified":"2020-03-05T11:11:50","modified_gmt":"2020-03-05T17:11:50","slug":"glencore-finds-facts-believed-relevant-to-corruption-probes","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1169643","title":{"rendered":"Glencore finds facts believed \u201crelevant\u201d to corruption probes"},"content":{"rendered":"<p>Miner and commodities trader&nbsp;Glencore&nbsp;(LON: GLEN) has<br \/>\nfound certain facts that \u201cmay be relevant\u201d to the probes it\u2019s facing and has shared<br \/>\nthem with regulators, the company\u2019s auditor said.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Deloitte, which conducted the audit overview of <a href=\"https:\/\/tools.morningstar.co.uk\/tsweu6nqxu\/globaldocuments\/document\/rnsNewsItem.aspx?DocumentId=LSE20200305070005_3515886\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Glencore\u2019s annual report<\/a>, say it had \u201cidentified facts\u201d that may help authorities progress on the multiple, but separate&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/glencore-cftc-investigation-possible-violations\/\" >corruption<\/a>&nbsp;and&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/glencore-shares-hammered-as-us-requests-documents-in-corruption-probe\/\" >bribery investigations<\/a> targeting the Swiss company.&nbsp;<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The Swiss miner and commodity trader is being investigated for suspected corruption and bribery  in the UK, US and Brazil.<\/p>\n<\/blockquote>\n<\/figure>\n<p>The ongoing probes in the UK, the US and Brazil, have scared investors and shaken the company over the past two years. <\/p>\n<p>Last month, Glencore&nbsp;<a href=\"https:\/\/www.glencore.com\/media-and-insights\/news\/preliminary-results-2019\"  rel=\"noreferrer noopener\">reported its first annual net loss since 2015<\/a>&nbsp;after taking<br \/>\na $2.8 billion impairment charge to reflect the closure of its&nbsp;<a href=\"https:\/\/www.mining.com\/glencore-warns-of-350m-hit-on-copper-unit-poor-results-cobalt-prices-rout\/\"  rel=\"noreferrer noopener\">African copper business<\/a>.&nbsp;<\/p>\n<p>Today\u2019s news is likely to increase pressure on chief executive officer&nbsp;Ivan Glasenberg. He <a href=\"https:\/\/www.mining.com\/more-heads-to-roll-at-glencore-this-year\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">told investors last month<\/a> to prepare for more leadership changes and hinted that his own departure may come sooner than previously anticipated.<\/p>\n<p>\u201cThe group is continuing to co-operate with the various regulatory and enforcement authorities on further subpoenas and information requests received,\u201d chairman Tony Hayward said in the report.<\/p>\n<p>Glencore is not the only top miner under scrutiny. Rio Tinto (ASX, LON, NYSE: RIO) is being investigated by both the US Department of Justice and the UK\u2019s Serious Fraud Office over a <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/rio-tinto-energy-and-minerals-chief-suspended-over-simandou-bribery-claims\/\" >questionable $10.5 million payment<\/a> it made to an external consultant who helped the company win the rights to the <a href=\"https:\/\/www.mining.com\/china-backed-jv-about-to-start-work-at-guineas-simandou\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">giant Simandou iron ore deposit in Guinea<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss miner and commodity trader is being investigated for suspected corruption and bribery  in the UK, US and Brazil.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1169643"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1169643"}],"version-history":[{"count":7,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1169643\/revisions"}],"predecessor-version":[{"id":1169673,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1169643\/revisions\/1169673"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1169643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1169643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1169643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}