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Vol 54 No 9

Published 26th April 2013


Guinea

The fight for Mount Simandou

Mining houses, politicians, lawyers and lobbyists have joined the battle for control of one of the richest iron-ore mines in the world

The latest round of courtroom battles in the West and arrests in Conakry have one certain result: that the plans to invest US$10 billion to produce iron ore from the giant Simandou reserves will be delayed indefinitely. At the heart of the fight for Simandou are President Alpha Condé’s government and three international mining houses: Anglo-Australian Rio Tinto, which has a controlling stake in Simandou Blocks 3 and 4, and Beny Steinmetz Group Resources (BSGR) which, together with Brazil’s Vale, control Simandou Blocks 1 and 2. The Conakry government took that lease from Rio Tinto in 2008 because of the company’s delays in starting in the project.

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