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CONGO: Senior African Officials, Multinationals Implicated In Exploitation

Author: UN Wire, Published on: 21 October 2002

Foreign corporations, senior African officials and criminal networks are plundering the rich natural resources of the Democratic Republic of the Congo, according to a new 59-page report prepared for the U.N. Security Council by a U.N.-appointed independent panel...The panel calls for financial restrictions to be levied on 54 individuals and 29 companies it said are involved in the plunder, including four Belgian diamond companies and the Belgian company George Forrest, which is partnered with the U.S.-based OM Group...The report also accuses 85 South African, European and U.S. multinational corporations -- including Anglo American, Barclays Bank, Bayer, De Beers and Cabot Corporation -- of violating the Organization for Economic Cooperation and Development's ethical guidelines on conflict zones.

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Related companies: Anglo American Barclays Bayer Cabot Corporation De Beers (part of Anglo American) Groupe Forrest International OM Group