Mar 31, 09:55 PM

Trafigura Initiates Arbitration Over $100 Million Copper Deal with Zambian Company After $49 Million Settlement for Bribery in Brazil

Trafigura has initiated arbitration proceedings against a majority state-owned Zambian company concerning a $100 million copper pre-payment deal. This announcement follows Trafigura's recent settlement with the Brazilian government, where it agreed to pay $49 million after admitting to bribing officials to secure business in Brazil. The company faced legal scrutiny for its actions over the past decade, leading to a guilty plea in the U.S. last year. Additionally, Trafigura's compliance measures have been under review, with the Brazilian government previously receiving approximately $19.3 billion in restitution since 2017 related to corruption cases involving the firm.

#Trafigura #Zambian #Brazilian #Brazil

Written with ChatGPT (GPT-4o mini).

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Javier Blas@JavierBlas
1 year ago
COMMODITY TRADING: Gunvor reports net profit of $729 million in 2024, down ~42% from the previous year (despite the decline, net profit was still the 4th-highest ever) #OOTT https://t.co/CTCYzSdK4H
Controladoria-Geral da União (CGU)@CGUonline
1 year ago
🤝 CGU e AGU assinam acordo de leniência com a Trafigura, que pagará R$ 435,4 mi por corrupção entre 2003-2014. A empresa reforçará suas politicas de compliance e governança. Desde 2017, R$ 19,3 bi já retornaram aos cofres públicos. ➡️ Saiba mais em https://t.co/JVH2DfCwGc. https://t.co/rzngHB6kL4
Giovanni Staunovo🛢@staunovo
1 year ago
Commodity trader Gunvor reports 2024 revenue of $136 billion https://t.co/tUHaBRsakT

Trafigura Initiates Arbitration Over $100 Million Copper Deal with Zambian Company After $49 Million Settlement for Bribery in Brazil

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