(Alliance News) - Glencore PLC said on Monday it will pay USD180 million to the Democratic Republic of Congo to cover claims linked to alleged acts of corruption for over a decade.

The Anglo-Swiss commodity trading and mining company said these corruption allegations included activities in group businesses that had been the subject of various investigations by, among others, the US Department of Justice and the DRC's National Financial Intelligence Unit and Ministry of Justice.

In a statement on Monday, Glencore said its agreement with the DRC covered all present and future claims arising from any corruption allegations in the DRC between 2007 and 2018.

Early last month, Glencore said it would pay GBP281.0 million after it admitted to bribing offences in Africa.

The penalty was handed to the mining firm by the Southwark Crown Court in London, where Glencore had admitted to five counts of bribery and two counts of failure to prevent bribery.

Glencore was found to have used bribes to secure better access to oil in Nigeria, Cameroon and Ivory Coast between March 2012 to April 2016.

The miner said at the time the total amount it had paid to resolve legal matters in the UK, US and Brazil "do not materially differ" from a USD1.50 billion provision it set aside in its 2021 annual results.

Shares in Glencore was up 1.1% to ZAR119.66 on Monday morning in Johannesburg.

By Artwell Dlamini; artwelldlamini@alliancenews.com

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