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Swiss courts ordered the commodity trading and mining company to pay the sum after a four-year investigation into a corruption case.

Prosecutors accused Glencore of failing to take measures to prevent bribery of Congolese officials by a business partner in 2011 as the latter acquired minority stakes in two mining companies, the statement said.

However, Glencore has cooperated since the investigation was launched in June 2020 and could benefit from a reduced sentence.

The group says it does not accept the prosecution’s conclusions but has decided not to appeal.