Corruption occurs on a large scale in the Democratic Republic of the Congo’s cobalt industry, resulting in the continual siphoning of revenue from the country to foreign companies. Glencore, the Swiss mining conglomerate, was convicted of paying at least US$27.5 million in bribes to gain business advantages in the Democratic Republic of the Congo. As revealed in the Paradise Papers, Glencore engaged Israeli businessman Dan Gertler (now sanctioned by the US for corruption) to secure a substantial discount for its forthcoming purchase of Katanga Mining, a state-owned cobalt and copper mining company. Gertler, known for his close ties to Democratic Republic of the Congo President Joseph Kabila through previous dealings in weapons and diamonds, received a conditional US$45 million loan from Glencore. In return, he negotiated a price reduction for Katanga Mining from US$585 million to US$140 million. In 2022, Glencore was ordered to pay US$180 million to the Democratic Republic of the Congo authorities after being convicted of corruption, and in 2024, it was fined an extra US$152 million by Swiss authorities for failing to prevent a business partner from bribing a Congolese public official in 2011.