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Coal

Glencore sets up board committee on U.S. money-laundering probe

July 11 (Reuters) - Glencore Plc has established a board committee to oversee the mining company’s response to U.S. authorities’ demands for documents on its business in the Democratic Republic of Congo, Venezuela and Nigeria as part of a corruption probe.

The committee comprises of Chairman Tony Hayward and Independent Non-Executive Director Leonhard Fischer and Patrice Merrin, the company said in a statement on Wednesday.

Swiss-based Glencore received a subpoena from the U.S. Department of Justice (DOJ) last week requesting documents and records on compliance with the U.S. Foreign Corrupt Practices Act and money-laundering statutes. (Reporting by Arathy S Nair in Bengaluru; editing by Patrick Graham)

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