Glencore share falls on news of Swiss criminal probe over DRC dealings

The share price of diversified miner Glencore was on track for its worst day in more than three months on Monday, amid news Swiss authorities are investigating alleged corruption related to its operations in the Democratic Republic of the Congo (DRC).

Glencore said it will co-operate with the investigation by the office of the attorney-general of Switzerland regarding its alleged failure to have organisational measures in place that will prevent corruption in the DRC.

In December, The Wall Street Journal reported the UK’s Serious Fraud Office was investing the mining company.

In morning trade Glencore’s share price was down 7.41% to R35.01, having fallen 48.08% so far in 2020.