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Vol 4 (AAC) No 8

Published 1st June 2011


Guinea

Doors open, doors close

In early June, Guinea’s President Alpha Condé set the tone for more tense negotiations with mining investors when he declared that Chinese-style mines-for-infrastructure deals are unacceptable. The government has also extracted a US$700 million payment from Australia’s Rio Tinto for the go-ahead on its plans to develop Blocks 3 and 4 of the giant Simandou iron ore mine with the Aluminium Corporation of China. Other Chinese investors, including those of the China International Fund, wish that they were that fortunate.

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