Glencore's Mining Assets Have Been Frozen in DRC ... The beginning of the end?

Watching with great interest as Glencore's stock tanks because a former partner who is close to the DRC's Kabila has maneuvered as asset seize, demanding money even though he's sanctioned. Glencore is going to have a hard time wiggling out of this one!

https://www.bloomberg.com/news/articles/2018-04-30/glencore-drops-as-clash-with-former-partner-adds-to-congo-issues

 

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The DRC has a crucial importance for Glencore's earnings. Two mines in the DRC, Katanga and Mutanda are forecast to generate $2 billion of group earnings this year. And they are expected to produce 320,000 of copper and 36,000 tonnes of cobalt this year, which is about 36% of global mine supply. 

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These guys are so corrupt, I can't say I'm sorry to see them taken down this way--even if it is by someone equally corrupt, and sanctioned no less. 

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Anyone else following this?? 

Glencore has just said it's going to pay Dan Gertler off over DRC asset freeze, and Gertler is a sanctioned individual. They are testing Washington on this, so the media says. But I don't buy it. There had to be some sort of underhanded deal here or they wouldn't be just throwing this out there and risking violations. 

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