The Democratic Republic of the Congo is the poorest nation in the world yet out of the massive trove of papers from the Panama Papers comes the news that the leadership paid Bill Clinton $650k for a speech and a photo. What did they all get in return or what are they owed?
In the proposed 2012 contract, the organizers expected a speech and at least one photograph each with the leaders of the Democratic Republic of the Congo and the Congo [a separate country], which appeared to be splitting the princely honorarium.
Forbes contributor Richard Miniter details the corruption in the Congo and draws a connection to another very generous donor to the Clinton Foundation.
The author reminds us of the case of Lundin Mining. Swedish investor Lukas Lundin donated between $1 million and $5 million to the Clinton Foundation between 2007 and 2013. The Foundation only reports ranges, not specific amounts.
Lundin Group pledged another $100 million to the Clinton Foundation, according to a 2007 Clinton Foundation press release.
Lundin Mining has substantial operations in the Congo. A partner of Lundin in its Congo operations, Freeport-McMoran Copper & Gold, gave the Clinton Foundation as much as $500,000, according documents released by the foundation that present its contributions in the $250,000-$500,000 range.
In 2010, the State Department under Hillary Clinton, entered into talks with the Congo over a dispute with Lundin and Freeport-McMoran.
As a result, the Congo gave up its efforts to seize some of the world’s most lucrative copper mines from Lundin and his partners in exchange for increasing its share of the profits by less than 3%.