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Vol 2 (AAC) No 4

Published 1st February 2009


The new Conakry order

Despite a show of insouciance after December's putsch led by Captain Moussa Dadis Camara in Conakry, China's diplomats and business leaders are closely watching the new regime's policies, particularly its intentions to review all mining contracts. China is now the biggest foreign investor in the Mano River Union countries of Guinea, Liberia and Sierra Leone, following China Union's $2.68 billion investment in Liberia. That strategic position has been further strengthened by the state-owned Aluminium Corporation of China (Chinalco)'s US$19.5 bn. investment in the debt-laden Rio Tinto Group (equivalent to 18% of Rio's equity), which has started work cautiously on a $6 bn. iron-ore project in Guinea.

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