DRC Tag

Glencore’s mining subsidiaries in the Democratic Republic of Congo have been served freezing orders for alleged unpaid royalties amounting to nearly US$3 billion. The freezing order was served in the DRC by Ventora Development Sasu, a company affiliated with Israeli billionaire Dan Gertler. The firm is seeking...

Glencore has confirmed that the Democratic Republic of Congo’s state-owned mining company has begun legal proceedings to dissolve one of its subsidiaries because of a capital shortfall. In a company statement, the Anglo-Swiss commodities giant said it has ‘several options’ to address this shortfall at Kamoto...

The London Metal Exchange is considering removing companies from its list of approved metal suppliers who do not meet industry standards, following growing outcry about child labour taking place in African cobalt mining. The exchange is set to issue principles for responsible metal sourcing in the...

Glencore (LSE:GLEN) increased its holding in Fleurette Properties subsidiaries with a US$960 acquisition announced yesterday. The multi-commodity miner purchased a further 31% stake in Mutanda Mining, bringing its interest to 100%, and an approximate 10.25% stake in Katanga Mining. Taking into account the various loans Glencore has...