The SFO fine represents about half a week’s profit for the booming firm — Glencore made $100 million-a-day in the first six months of the year. In the first-half alone its core profit hit a record $18.9 billion, propelled by record coal prices and its best ever trading performance.

“The conduct that took place was inexcusable and has no place in Glencore,” Kalidas Madhavpeddi, Glencore’s chair, said in a statement. It’s “committed to operating a company that creates value for all stakeholders by operating transparently under a well-defined set of values, with openness and integrity at the forefront.”

The world’s top coal shipper, has been one of the biggest winners from the global energy crunch as demand surges for fossil fuels. The company’s trading business has also cashed in on dramatic price swings across markets from metals to oil following Russia’s invasion of Ukraine.

Prosecution lawyers laid out on Wednesday the level of corruption that saw cash delivered in private jets to pay the bribes. The fine was handed down by Judge Peter Fraser at Southwark Crown Court on Thursday. The penalty includes a £93 million confiscation order and takes into account a discount for Glencore’s guilty plea.

“Bribery was clearly part of the culture for a number of personnel on the west Africa desk,” Fraser said. “These counts represent sophisticated offending that was sustained over prolonged periods of time that are measured in years.”

Glencore initially set aside $410 million for the UK fine in the 2021 accounts of its British subsidiary. In May, Glencore said it expected to pay around $1.5 billion in total to resolve three investigations.

Cash, Traders and Oil: How Glencore Bribed Its Way Across Africa