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Vol 5 (AAC) No 10

Published 1st August 2012


Guinea

Condé’s great giveaway

A government partner is handing over major stakes in the Simandou contracts to Chinese state-owned firms

Despite support from groups like George Soros’s Open Society Institute, President Alpha Condé’s government persists in striking troublesome mining deals. The government and the African Iron Ore Group, founded by Ethelbert Cooper, a Liberian, signed a deal in November 2011 that would secure AIOG a stake in the planned infrastructure for the Simandou mine – on condition that it help to arrange the finance. It now appears that AIOG has merely done what the Guinean state could have done itself – roped in Chinese state-owned enterprises – and in the process handed over a 40% portion of Guinea’s share of the railway line and port.

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