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Proceeds from the investigation of the North American Department of Justice, the shares of the Swiss mining company decreased by 8.1%.
More than two years ago, the Swiss mining company Glencore had not had such a bad day. And yesterday, the shares of one of the largest mining companies in the world recorded a decline of 8.1%, registering its largest negative change since June 24, 2016, when they lost 8.83% .
Thus, the price of the papers of the Swiss giant – which is in Chile one of the main shareholders of Collahuasi and has three other operations – stood at 321 pence ($ 4.23), reaching minimum values in almost a year, while the stock rose to 313.56 pence on August 11, 2017.
The reason? The firm, whose CEO is Ivan Glasenberg, announced yesterday that one of its affiliates in the United States on Monday received a summons from the United States Department of Justice to report compliance with anti-corruption regulations related to its activities. in Nigeria, in the Democratic Republic of Congo. Glencore Ltd., a subsidiary of Glencore plc, has received a subpoena dated July 2, 2018 from the United States Department of Justice, for the production of documents and other documents relating to compliance with the Law of the United States. corruption. Overseas and US money laundering laws, "the mining company posted on its website.
The firm indicated that it was reviewing the quote and that it would provide more information "in due course, if any". 19659005] According to Reuters, the requested documents relate to the activity of the group in the three countries from 2007 to
The US Foreign Corrupt Practices Act makes it an offense for companies to bribe foreign officials to get a business gain.
This is not the first time that Glencore has legal problems. In 1965, Glasenberg had to leave the board of directors of one of Glencore's largest aluminum suppliers, United Co. Rusal, after its main owner, Oleg Deripaska, was struck by the worst penalty imposed by the United States. to an alleged Russian oligarch
In Congo, for its part, the mining company was also under legal pressure
Presence in Chile
Glencore maintains operations in several operations in the northern country. The most important is Collahuasi, where he has 44%, same participation as Anglo American.
It also owns 100% of Lomas Bayas, a site located 120 kilometers from Antofagasta, and which in 2016 produced the order of 80,063 tonnes of copper in the cathodes
It also retains the metallurgical complex from Altonorte and a smaller site in Coquimbo, called Altos de Punitaqui.
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