ENRC, the mining giant at the centre of corporate governance storms, has agreed to hand over details of an internal investigation into its activities to the Serious Fraud Office (SFO).
The SFO has been pressing for ENRC to voluntarily report on the investigation which focused on activities in Kazakhstan and information regarding a mine in the Democratic Republic of Congo. This was carried out on behalf of the Kazakh mining company's three-man audit committee. It emerged last month that the SFO was looking at the company, but the watchdog denied there was a formal investigation.
ENRC, chaired by Johannes Sittard, has since tried to settle a dispute about ownership of assets in the Congo, in which it had to pay First Quantum Minerals $1.25bn last week.Reuse content