Glencore's Australian arm moved billions through Bermuda

Paradise Papers reveal use of cross-currency interest rate swaps, which are under investigation by the tax office

The Australian arm of the global mining giant Glencore has been involved in cross-currency swaps of up to $25bn of a type under specific investigation by the Australian tax office, the Paradise Papers reveal.

Glencore, the world's largest mining company by revenue, has attracted significant controversy since its entry into the Australian market in the mid-1990s over its tax strategies, degradation of sacred Indigenous lands, and black lung and lead blood poisoning among its workforce and their families.