Hyperdrive
Glencore Caves to Congo to Keep Its Electric Car Dream Alive
- Glencore is paying a hefty price to keep its copper mines
- It reached two deals this week to solve disputes in Congo
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Glencore Plc will likely have an easier time working in the Democratic Republic of Congo after it paid to solve two of its biggest problems.
Faced with the risk of losing control of its mines, Glencore bowed to the demands from two entities with close government ties -- the state-run mining company Gecamines and Dan Gertler, who is under U.S. sanctions and a friend of President Joseph Kabila.