Federal police probe into Oz Minerals

The Australian Federal Police have reopened corruption investigations involving Oz Minerals and bionic ear manufacturer Cochlear.

The AFP confirmed it is reopening the cases after the OECD highlighted the lack of foreign bribery convictions, according to The Age.

Oz Minerals is under investigation over alleged foreign bribery in Cambodia, where according to The Cambodia Daily the miner paid more than a million dollars to three women on the board of joint venture partner Shin Ha when it acquired the company in 2009.

It was later revealed that the women are related to Cambodian officials that work in the mining ministry.

At the time the claims were dismissed by the AFP without a formal investigation as t received information from the AFP's overseas network that the transaction had been undertaken with due diligence and that all payments were made at the joint venture partner's request'," the OECD stated.

''The AFP did not inquire into key matters that could have corroborated the allegations, such as whether the board members were indeed related to foreign public officials; the due diligence conducted by the company was sound; and the buyout proceeds were channelled to the board members."

OZ Minerals sold its Cambodian assets to Renaissance Minerals in May last year.

Cochlear also came under investigation for reportedly attempting to influence medical supplies tenders in Portugal.
 

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