Johannesburg – Glencore has defended an Israeli business man Daniel Gertler who has helped this company strike a deal with the Democratic Republic of Congo (DRC). This deal was made over the company’s massive Katanga mine.
On Sunday Glencore issued a statement with the aim to provide an explanation of the loan, which they say it is fully paid and its Katanga mine firmed that is co-owned by the DRC.
In the statement Glencore also that Gertler was asked to negotiate with the DRC on behalf of the Katanga regarding the mine. They also went on to say that Gertler’s loan came with profitable terms and this loan was negotiated at an arm’s length.
This follows after files were leaked from the Glencore room in their offshore law firm that is situated in Appleby in Bermuda.
These files revealed that Glencore provided a loan to the Gertler-controlled Lora Enterprises. This loan is said to be $45 million.
These leaked were published by the International Consortium of Investigative Journalism (ICIJ).
ICIJ reported on its site, and their report read, “The leaked files provide the most detailed evidence yet of the behind-the-scenes lobbying and the money flows that helped Katanga, in which Glencore was just a shareholder at the time, acquire mining licenses.”