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glencore mining payment to dan gartler in congo

glencore mining payment to dan gartler in congo

  • Glencores Shares Drop After Justice Department Subpoena

    Glencores Shares Drop After Justice Department Subpoena

    Jul 03, 2018Glencores Shares Drop After Justice Department SubpoenaGlencores Shares Drop After Justice Department Subpoena. But the company has taken criticism for its former relationship with Dan Gertler, an Israeli businessman who runs mining businesses in Congo and who has close ties to Joseph Kabila, the countrys president. The Treasury Department

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  • Glencore resumes payments to dodgy Dan Gertler as it

    Glencore resumes payments to dodgy Dan Gertler as it

    Glencore was in a difficult position of whether to deal with Gertler. It is contractually obliged to pay him mining royalties. In April, Gertler won a court ruling in Congo to freeze assets worth almost $3 billion, leading to speculation that he could disrupt and even take over Glencores operations in the country.

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  • Dem. Rep. of Congo Glencore redirected mining payments

    Dem. Rep. of Congo Glencore redirected mining payments

    Dem. Rep. of Congo Glencore redirected mining payments due to state owned firm to businessman Dan Gertler, says Global Witness Get RSS feed of these results All components of this story

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  • Glencore settles legal row with former partner over Congo

    Glencore settles legal row with former partner over Congo

    Jun 15, 2018Glencore settles legal row with former partner over Congo royalties. The company will pay Gertler 25.6 million euros ($29.7 million) in royalties from the Mutanda copper mine in DRC this year and 16.5 million euros ($19.2 million) each quarter from Kamoto, starting in 2019.

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  • Glencore buys Dan Gertler stakes in 2 Congo mines

    Glencore buys Dan Gertler stakes in 2 Congo mines

    Feb 14, 2017Glencore buys Dan Gertler stakes in 2 Congo mines. The $534 million payment comes after settlement of $556 million of loans payable by Fleurette to Glencore. Glencore also acquired $130 million of shareholder loans owed to Fleurette by Mutanda. Glencore said it now owns 100% of Mutanda and 86.3% of Katanga's shares.

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  • Glencore dodges American sanctions rather than spurn its

    Glencore dodges American sanctions rather than spurn its

    Evasive action Glencore dodges American sanctions rather than spurn its friends. The worlds largest commodities trader is resuming payments to Dan Gertler in Congo

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  • Everything you need to know about Glencore, Dan Gertler

    Everything you need to know about Glencore, Dan Gertler

    Nov 05, 2017Once described as the biggest company youve never heard of, Glencore is the worlds largest mining company by revenue, and a massive commodities trader. It is the largest supplier of

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  • Glencore shares under cloud after U.S demands Congo

    Glencore shares under cloud after U.S demands Congo

    Jul 12, 2018The U.S. investigation could be related to Glencore's settling of a mining row with Israeli billionaire Dan Gertler, who has been under U.S. sanctions since last year, some analysts say. The firm agreed to pay royalties in euros.

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  • Paradise Papers Mining for Control in Glencore's Congo

    Paradise Papers Mining for Control in Glencore's Congo

    Around the same time Glencore was securing its mining rights in Congo, according to the document, an Israeli businessman was allegedly also doing deals for Och Ziff. As part of a deferred prosecution agreement, the hedge fund admitted bribes had been paid to the Congolese government to obtain special access to mines in the country.

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  • Glencore buys Dan Gertler stakes in 2 Congo mines

    Glencore buys Dan Gertler stakes in 2 Congo mines

    Feb 14, 2017Gertler became a close partner with Glencore a decade ago when they both invested in Nikanor PLC, a Congo focused mining company that owned a coveted copper mine in

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  • Canada fines Glencore mining unit for Congo risks, WSJ

    Canada fines Glencore mining unit for Congo risks, WSJ

    Dec 17, 2018Gertler first invested in the mining division alongside Glencore about 10 years ago. Dan Gertler in Katanga province The commission is expected to allege the Congolese president lacked proper internal financial controls, pushing the company to exaggerate its copper production, while at the same time downplaying mining costs.

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  • Glencore Under Probe Over Congo Payments   WSJ

    Glencore Under Probe Over Congo Payments WSJ

    Glencore and Mr. Gertler joined forces in Congo in 2007 when Glencore invested in a Congo focused mining company called Nikanor PLC, partly owned by the Israeli businessman. Nikanor merged with Katanga a year later, forming one of Congos largest copper mining operations.

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  • Glencore PLC, Loans to Gertler, Leveraging Companies, DRC

    Glencore PLC, Loans to Gertler, Leveraging Companies, DRC

    Jan 14, 2019Glencore Gave Loans to Businesses Linked to Suspect Congo Dealings Swiss mining giant Glencore GLNCY 0.60% PLC provided nearly $1 billion in loans and advances to companies associated with an Israeli businessman accused of having corrupt ties to government officials in the Democratic Republic of Congo, according to documents reviewed by The Wall Street Journal.

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  • Glencore's Congo mining conundrum  MINING

    Glencore's Congo mining conundrum MINING

    May 03, 2018Glencore, which disputes the amounts, said Mutanda Mining and KCC would contest the freezing order and any subsequent proceedings. Glencore on May 1 won a temporary injunction against Gertler over the alleged unpaid royalties. Further hearings are expected in London on May 11 and in Congo on May 8.

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  • Glencore settles with Gertler over Congo royalties

    Glencore settles with Gertler over Congo royalties

    Jun 15, 2018Glencore settles with Gertler over Congo royalties. Gertler's Ventora Development Sasu had been seeking $695 million (524.33 million pounds) in unpaid and future royalties from Glencore's subsidiary Mutanda Mining and $2.28 billion from Glencore subsidiary Kamoto Copper Co (KCC).

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  • Glencore settles with Gertler over Congo royalties

    Glencore settles with Gertler over Congo royalties

    Jun 15, 2018Glencore settles with Gertler over Congo royalties. Gertler's Ventora Development Sasu had been seeking $695 million (524.33 million pounds) in unpaid and future royalties from Glencore's subsidiary Mutanda Mining and $2.28 billion from Glencore subsidiary Kamoto Copper Co (KCC).

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  • Glencore in the sights of the United States on suspicion

    Glencore in the sights of the United States on suspicion

    Apr 28, 2019In this case, Glencore is most at risk, continuing to pay royalties to Dan Gertler. Despite sanctions against the Israeli businessman, the Swiss mining giant would have paid some $ 74 million to his former business partner last year. Companies that source from Glencore cobalt, including Congolese cobalt, difficult to identify.

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  • Glencore Paid Gertler's Firm $100 Million Congo Royalties

    Glencore Paid Gertler's Firm $100 Million Congo Royalties

    Mar 03, 2017Glencore Paid Gertler's Firm $100 Million Congo Royalties. Glencore confirmed the payments to Gertlers company in a letter to the advocacy group. In previous filings, Katanga Mining either said the payments went to Gecamines or didnt specify the recipients.

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  • Glencore shares under cloud after U.S demands Congo

    Glencore shares under cloud after U.S demands Congo

    Jul 12, 2018The U.S. investigation could be related to Glencore's settling of a mining row with Israeli billionaire Dan Gertler, who has been under U.S. sanctions since last year, some analysts say. The firm agreed to pay royalties in euros.

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  • Glencore settles with Gertler over Congo royalties   Reuters

    Glencore settles with Gertler over Congo royalties Reuters

    Jun 15, 2018Glencore has settled a mining row in Democratic Republic of Congo with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than U.S. dollars, lowering the risk of

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  • Corruption scandal Gertler, Glencore's 'Gupta' in the

    Corruption scandal Gertler, Glencore's 'Gupta' in the

    Corruption scandal Gertler, Glencores Gupta in the Congo, remains defiant. There is also a free 30 day trial option (and if you prefer, a monthly payment plan). To be sure, Congos government stands by Gertler, who still holds mineral and oil rights in the

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  • Glencore must not pay millions to sanctioned individual

    Glencore must not pay millions to sanctioned individual

    Glencore and Dan Gertler were partners in mining ventures in Democratic Republic of Congo for a decade, until Glencore bought out Gertler in a billion dollar deal in February 2017. Gertler owns rights to royalty payments from the Mutanda mining project.

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  • Glencore PLC, Loans to Gertler, Leveraging Companies, DRC

    Glencore PLC, Loans to Gertler, Leveraging Companies, DRC

    Jan 14, 2019Glencore Gave Loans to Businesses Linked to Suspect Congo Dealings Swiss mining giant Glencore GLNCY 0.60% PLC provided nearly $1 billion in loans and advances to companies associated with an Israeli businessman accused of having corrupt ties to government officials in the Democratic Republic of Congo, according to documents reviewed by The Wall Street Journal.

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  • Glencore  settles with Gertler over Congo royalties

    Glencore settles with Gertler over Congo royalties

    Gertler's Ventora Development Sasu had been seeking $695 million (524.33 million pounds) in unpaid and future royalties from Glencore's subsidiary Mutanda Mining and $2.28 billion from Glencore subsidiary Kamoto Copper Co (KCC).

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  • Canada fines Glencore mining unit for Congo risks, WSJ

    Canada fines Glencore mining unit for Congo risks, WSJ

    Dec 17, 2018Gertler first invested in the mining division alongside Glencore about 10 years ago. Dan Gertler in Katanga province The commission is expected to allege the Congolese president lacked proper internal financial controls, pushing the company to exaggerate its copper production, while at the same time downplaying mining costs.

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  • Pressure builds on mining industry over supply chains

    Pressure builds on mining industry over supply chains

    10 hours agoAn outcry over child labour in the Congo led to changes in the mining industry but sharper examination of supply chains is raising other concerns. Israeli mining magnate Dan Gertler, through

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  • Glencore Is Said to Take Congo Rift With Gertler to London

    Glencore Is Said to Take Congo Rift With Gertler to London

    May 02, 2018Glencore Is Said to Take Congo Rift With Gertler to London Court. Glencore is challenging the government over a new mining code which raises taxes and royalties, while state owned miner Gecamines last month accused the Swiss company of "draining" Kamoto of profit and asked a

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  • Glencore redirected over $75 million in mining payments to

    Glencore redirected over $75 million in mining payments to

    Mar 03, 2017Between 2013 and 2016 mining giant Glencore paid over $75m to Dan Gertler, a controversial businessman accused of bribing senior officials in Democratic Republic of Congo to advance his mining interests, Global Witness revealed today.

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  • Dem. Rep. of Congo Glencore redirected mining payments

    Dem. Rep. of Congo Glencore redirected mining payments

    Dem. Rep. of Congo Glencore redirected mining payments due to state owned firm to businessman Dan Gertler, says Global Witness Get RSS feed of these results All components of this story

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  • Glencore paid $100m to Dan Gertler in Congo deals   Telegraph

    Glencore paid $100m to Dan Gertler in Congo deals Telegraph

    Mar 03, 2017Glencore paid $100m to Dan Gertler in Congo deals. Glencore said it had made the payments to AHIL at the request of Gcamines, which had sold on its royalties. It added that all filings by Katanga were in accordance with Toronto Stock Exchange rules.

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