Glencore Paid Gertler's Firm $100 Million Congo Royalties
- Gertler company says payments were repayment for loan
- Glencore says it complied with all disclosure obligations
Rock samples are labeled with their gold content. Randgold is exploring further deposits in northeastern Democratic Republic of Congo with Moku Goldmines AG, controlled by Israeli billionaire Dan Gertler.
Photographer: Simon Dawson/BloombergGlencore 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 advocacy group Global Witness.
It’s the first time the value of the payments made to Gertler have been made public, after London-based Global Witness reported in November that government-owned Gecamines signed over its royalties from the Kamoto copper project in southeastern Congo to Gertler in January 2015. Gertler’s privately held Fleurette Group said the payments were made on instruction from Gecamines to help repay a loan.