Jump to navigation

Vol 64 No 8

Published 13th April 2023


Beny Steinmetz loses appeal in epic Simandou corruption case

Dismissing the ruling as 'politically motivated', the mining tycoon is to make one last attempt to overturn his conviction – at the Swiss federal court

The Swiss appeal court's upholding of a guilty verdict for corruption against mining tycoon Beny Steinmetz nearly ends the decade-long legal fight over Guinea's Simandou iron ore resources, the largest and best quality in the world. Two international consortia are set to produce ore at the site in 2027, some 30 years after the extent of the resources was first identified, according to industry sources and Switzerland's UBS bank.

End of preview - This article contains approximately 735 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.