Glencore faces Department of Justice probe

FTSE 100 mining outfit Glencore (LON:GLEN) saw its shares plunge by 11.78% to 308.15p (as of 09:50 BST) after it received a subpeona from the United States Department of Justice. The subpeona, dated 2nd of July 2018, asks that the company produces documents and records showing compliance with the Foreign Corrupt Practices Act and United States money laundering statutes in relation to Glencore’s activities in Nigeria, Venezuela, and the Democratic Republic of Congo from 2007 onwards.

Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE

Management said that they would review the request and provide further information in due course.