Corruption probe digs deeper into OZ Minerals deal

[geovalin]

Kali Kotoski

Australian authorities have expanded the scope of an ongoing investigation into Australian mining firm OZ Minerals over claims it engaged in bribery in Cambodia in 2009, the firm said in its latest annual report.

The ASX-listed miner said the Australian Federal Police (AFP) was taking a closer look at its former Cambodian operations as part of an investigation into the 2009 buyout of a partner in the company’s former joint venture gold exploration project in Mondulkiri province.

“Since the end of the financial year, the Company has been advised by the AFP that the scope of the AFP’s investigation is being extended to OZ Minerals’ former Cambodian operations generally. The AFP is continuing its investigation and OZ Minerals is continuing to cooperate with the AFP,” the annual report released April 15 said.

read more http://www.phnompenhpost.com/business/corruption-probe-digs-deeper-oz-minerals-deal

[shirtless]

Wake up , This is Cambodia things are done differently here , This is not a nanny state,pc fools.

[Dibbler]

No but ASX listed companies such as OZ Minerals have a code of governance that guides their business practice and paying corrupt officials to get mineral licenced is not something that is acceptable to shareholders or the Australian Business Council. Encouraging corruption does not help national development of countries like Cambodia.

[bassman]

What a company doing business in SE Asia and is accused of passing the brown bags? Doubt many would do business in this neighborhood without a brownbag or two, though laws in most countries of the western world make it a criminal/civil offense. This is regardless of where the bribes are paid.

However most of the enforcement is done in those nations that speak English, hardly ever hear of mainland Europe pursuing many cases to conviction.