Money earned from the exploitation of natural resources has the potential to reduce poverty and improve the life chances of millions of people. But too often corruption and poor governance divert massive sums of money away from the people to whom it belongs: citizens in resource-rich countries.
As the world’s biggest commodities trader, Glencore’s business relies on sourcing raw materials and minerals from some of the poorest countries on earth. The company controls roughly half the world's traded copper and over a fifth of the world's traded cobalt. Congo is a key producer of both minerals. Glencore’s behaviour helps set the standard for how commodities companies operate across the world. It boasts that it “will not assist any third party in violating the law in any country, nor pay or receive bribes, nor participate in any other criminal, fraudulent or corrupt practice”.
Global Witness has been investigating Glencore’s recent acquisitions of world class mining assets in the Democratic Republic of Congo. These deals have taken place amid opaque dealings involving the Congolese government, Glencore and its long-standing partner Dan Gertler, an Israeli businessman who is a close friend of President Joseph Kabila.
Our investigation raises questions over whether Glencore played a role in secret and possibly corrupt sales of stakes in the Kansuki and Mutanda mines in Congo’s southern Katanga province in 2010 and 2011. They also raise questions over whether cash invested by Glencore shareholders is being used wisely and whether the Congolese people are benefitting from wealth that is rightfully theirs.
For general enquiries please contact +44 (0)207 492 5820, email@example.com.
For urgent out of hours enquiries please contact Andrea Pattison on +44 (0)797 010 3083.