Antinuclear

“tea money” – Australian mining companies’ bribery in Africa and Asia

The US Securities Exchange Commission is investigating BHP Billiton for possible violation of anti-
bribery laws. The company has been under scrutiny after it was revealed it paid $1 million to the Cambodian government to secure a mining project in 2006. A senior Cambodian minister later described the payment, which has been unable to be traced, as ”tea money”…..

Firms tell of possible bribes, The Age, Richard Baker and Nick McKenzie, February 14, 2012, SEVERAL large Australian public companies have provided federal police with information implicating themselves in possible foreign bribery offences.
The Age understands companies involved in mining, exploration and other sectors in Africa and Asia have discovered possible evidence of overseas bribery during recent internal audits…. Documents released by the federal Attorney-General’s Department to The Age under Freedom of Information laws show that in May last year Australia had four active foreign bribery investigations.
A senior executive in a leading accounting firm told The Age this week
his company had been contacted by dozens of Australian firms in the
wake of the RBA scandal amid concerns that their conduct abroad may
have put them in breach of bribery laws….
A BHP Billiton spokeswoman said: ”We are not able to comment at this time.”
The US Securities Exchange Commission is investigating BHP Billiton
for possible violation of anti-bribery laws.
The company has been under scrutiny after it was revealed it paid $1
million to the Cambodian government to secure a mining project in
2006. A senior Cambodian minister later described the payment, which
has been unable to be traced, as ”tea money”…..
Rio Tinto yesterday had ”no comment” in response to questions from
The Age about whether it had contacted police about foreign bribery
issues.
Attorney-General’s Department documents show officials in the
financial crime section were last year taking a keen interest in
allegations Oz Minerals had been involved in bribery in Cambodia.
The Cambodia Daily newspaper last year alleged relatives of government
officials had received hundreds of thousands of dollars after the
Australian firm bought out its local partner in a gold mining
venture…..
The Age is aware of another Australian mining company under
investigation by law enforcement agencies that is believed to have
paid a senior African political figure to obtain a business advantage.

Read more: http://www.theage.com.au/national/firms-tell-of-possible-bribes-20120213-1t2ax.html#ixzz1mP4Gg0Xn

February 14, 2012 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, secrets and lies | secrets and lies