"leonine" deal

Zambia’s anti-graft commission probes Glencore, FQM donations to former ruling party

By Chiwoyu Sinyangwe

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Posted on November 30, 2022 15:56

The logo of commodities trader Glencore is pictured in front of the company’s headquarters in the Swiss town of Baar November 20, 2012. REUTERS/Arnd Wiegmann

The Anti-Corruption Commission (ACC) says it is investigating “circumstances under which” Glencore AG paid $3m to the former ruling party Patriotic Front, a payment it says led to Zambia getting “unfavorable terms” in the controversial mining transaction.

Separately, a former senior member of the Patriotic Front says the agency is also probing the $150,000 ‘donation’ that PF received from First Quantum Minerals (FQM).

According to investigative sources, Swiss-based Glencore AG paid $3m to the former ruling party in 2016 when it owned and operated Mopani Copper Mines (MCM) in Mufulira and Kitwe on the Copperbelt.

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