Glencore sets aside $1.5 billion for probes, reports record earnings – Reuters

Glencore sets aside $1.5 billion for probes, reports record earnings – Reuters

LONDON, Feb 15 (Reuters) - Glencore (GLEN.L) will set aside $1.5 billion for probes into bribery and market manipulation, which it expects to resolve in 2022, it said on Tuesday, as it announced record earnings from booming raw materials prices.

It also promised a $4 billion payout to its investors and said the trading division could benefit from further disruptions to commodity markets, including from tension between Russia and Ukraine.

The company, one of the world's biggest miners and commodity traders, faces investigations in Brazil, Britain and the United States following corruption allegations relating to some of its operations in the Democratic Republic of Congo, Nigeria and Venezuela since 2018.