Glencore Unit Pleads Guilty To 7 Bribery Charges In UK

By Richard Crump (June 21, 2022, 3:16 PM BST) -- A British subsidiary of mining giant Glencore formally pled guilty at a London court on Tuesday to seven counts of bribery in connection with its oil operations in several African countries.

Glencore Energy (UK) Ltd. admitted to paying bribes of more than $28 million to officials at a range of African state-owned oil companies for preferential access to generate illicit profit and secure access to oil, perks that included increased cargoes, valuable grades of oil and preferable dates of delivery.

The company entered a formal plea at Southwark Crown Court after Glencore International AG pled guilty in May to bribery and market...

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