FX.co ★ Glencore shares nosedive on money-laundering probe

Shares of Switzerland-based mining giant Glencore plunged at the fastest pace in two years after it was ordered by the US Department of Justice to hand over documents associated with a money laundering probe investigation.

US authorities will check out documents and other records regarding business operations in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to the present time.

The company's shares fell by almost 13% during the day. Glencore said that it is considering the request by the US Justice Department and will provide further information in the near future.

Glencore had a difficult year, mainly due to problems related to its business in the DRC, where it it operates giant copper and cobalt mines. The company had been already faced with suspicions of bribery by UK prosecutors