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Artigo

3 Mar 2017

Author:
Thomas Wilson, Bloomberg

Glencore Paid Gertler's Firm $100 Million Congo Royalties

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Glencore Plc paid more than $100 million previously owed to the Democratic Republic of Congo’s state mining business to a company controlled by billionaire investor Dan Gertler, according to...Global Witness...Glencore’s Katanga Mining Ltd. made the royalty and contractual bonus payments over the past four years to Africa Horizons Investments Ltd., a unit of Fleurette, Global Witness said...Glencore confirmed the payments to Gertler’s company...In previous filings, Katanga Mining either said the payments went to Gecamines or didn’t specify the recipients...“The discrepancy between Katanga Mining’s filings and the real recipient of these huge payments runs the risk of misleading investors,” Pete Jones...[at] Global Witness...“Investors need to ask Glencore why it felt comfortable making these payments and why it didn’t clearly disclose Gertler as the recipient.”...Glencore said...it complied with all disclosure obligations relating to Katanga Mining. Glencore made the payments to Gertler’s Africa Horizons at Gecamines’ request, it said. Fleurette “always discloses anything that it is obligated to disclose,” it said...Gecamines instructed Kamoto to make the payments to Africa Horizons in “partial-satisfaction” of a $196 million 2013 loan from Fleurette, it said...The transfers were made to Africa Horizons in accordance with payment instructions from Gecamines and a subsequent royalty agreement signed by Kamoto, Gecamines and Africa Horizons in 2015, Glencore said...

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